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Gold drives toward $4,000 as U.S. government shutdown drags on
Fortune·2025-10-07 04:08

Gold rose to a fresh record, nearing 4,000anounce,asloomingUSinterestratecutsandtheprospectofaprolongedfederalgovernmentshutdownlifteddemand.Thepreciousmetalralliedasmuchas2.24,000-an-ounce, as looming US interest rate cuts and the prospect of a prolonged federal government shutdown lifted demand.The precious metal rallied as much as 2.2% to top 3,970 an ounce in the week’s opening session. The upswing, which follows a run of seven weekly gains, has lifted prices more than 50% this year. Gold-backed exchange-traded funds swelled again last week.The US shutdown has delayed key data, making a murky economic outlook more unclear. With a lack o ...