Market Panic Leads Gold to Rage
Gold broke another record and approached $4,000 per ounce after rising 1.2% to $3,932.02 amidst a wave of US political uncertainty. The ongoing US government shutdown delayed the release of monthly payroll data, further clouding the economic outlook and prompting investors to embrace safe-haven assets.
Demand for gold is increasing, not only from individual investors but also from gold-backed ETFs — recording the largest capital inflows in more than three years last month. An additional boost comes from market expectations that the Federal Reserve will cut interest rates by 0.25 percentage points at the end of the month, a scenario that further favors non-yielding gold. (asd)
Source: Newsmaker.id
