Reported 3 days ago
Gold prices have surged towards $4,000 an ounce amid an ongoing US government shutdown, which has delayed crucial payroll data and created uncertainty in the economic outlook. The precious metal saw a rise of 1.2% to $3,932.02 as investors respond to geopolitical instability and the Federal Reserve's anticipated rate cuts. Private investors have significantly increased their holdings in gold-backed ETFs, highlighting a robust 'buy the dip in gold' sentiment. With gold up nearly 50% this year, experts suggest a potential tactical pullback could be part of a longer-term rally.
Source: YAHOO