Analysis: The risk of a U.S. government shutdown has rattled the market, causing gold prices to hit a new high
2025-09-29 09:27:47
Gold prices topped the $3,800-an-ounce mark on Monday as the risk of a US government shutdown rattled markets and the dollar weakened. Gold prices have been surging on concerns about government debt levels and inflation, as well as questions about the dollar's status as a reserve asset, up 45 per cent this year. Analysts and market participants said one of the main drivers of the recent surge in gold prices has been western investors' rush into gold-backed ETFs. "The re-entry of ETF demand so strongly means there are two forms of'aggressive 'buying, from central banks and ETF investors," Deutsche Bank analysts wrote. US President Donald Trump will meet lawmakers on Monday in an effort to break the deadlock. If no agreement can be reached on short-term funding, federal funding will expire on Tuesday.
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