Gold edges higher in early Asian trade, aided by risks that the U.S. government shutdown may weaken the economy, potentially prompting more Fed rate cuts that would bolster the appeal of the non-interest-bearing precious metal.
Treasury Bessent said in an interview with CNBC on Thursday that the shutdown has the potential to chip away at U.S. economic growth. Gold prices are supported by expectations of easier monetary policy, central bank demand and a weak U.S. dollar, says Fawad Razaqzada, market analyst at City Index and FOREX.com, in an email. Spot gold is 0.1% higher at $3,861.22/oz
Source: Marketwatch
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