Gold strengthened in the Asian session as signs of a fragile US economy emerged. US companies reported plans to cut more than 150,000 jobs last month—nearly triple the number in September—according to consultancy Challenger, Gray & Christmas. This data added to market concerns and boosted interest in safe-haven assets.
Meanwhile, the US government shutdown entered its 37th day. Its impact is becoming increasingly noticeable: the Federal Aviation Administration (FAA) ordered a 10% reduction in traffic at 40 airports. This policy reinforced signals of slowing activity and dampened risk sentiment in financial markets.
"A prolonged government shutdown could continue to weigh on sentiment and boost demand for safe-haven assets," said Christopher Tahir, senior market strategist at Exness. Correspondingly, the spot gold price rose 0.2% to $3,983.54 per ounce, reflecting defensive buying amid uncertainty. (az)
Source: Newsmaker.id
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