Gold prices hit a new record early this week, hitting $3,920 per ounce on Monday, October 6, 2025, before a slight correction. This surge fueled investor concerns over the ongoing US government shutdown. This uncertainty prompted a massive outflow of funds into safe-haven assets like gold.
The shutdown also caused the postponement of US employment data, which was scheduled for release last Friday, further clouding the picture of the US economy. With crucial data withheld, investors grew wary, and precious metals became a prime choice for hedging.
So far this year, gold has risen nearly 50% — a sharp shock triggered by a combination of geopolitical turmoil, global tensions, and President Donald Trump's policies, which are considered to be boosting the economy. Furthermore, the Fed's interest rate cut cycle has also been a boost for gold, making yields on other assets less attractive.
This morning (Singapore time), gold is trading around $3,908 per ounce, up 0.6%. Meanwhile, the US dollar index actually strengthened slightly by 0.3%. Not only gold, but other precious metals such as silver, platinum, and palladium also strengthened, indicating that the market is truly hungry for safety. (azf)
Source: Newsmaker.id
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