“`html
Gold prices surged above $3,800 an ounce on Monday, reaching a new record high of $3,831.27, driven by investor demand amid fears of a potential U.S. government shutdown. The rise marked an increase of 1.7%, surpassing the previous all-time high by approximately $50 per ounce. U.S. gold futures also reflected this trend, rising by 1.2% to a peak of $3,860.60 in New York.
This price surge coincided with a 0.3% dip in the U.S. dollar as the market awaited important discussions between congressional leaders and President Trump regarding federal funding, which is set to expire on September 30. Gold has gained 45% this year amidst strong central bank demand and expectations for lower U.S. interest rates, with predictions from banks like Goldman Sachs and JPMorgan hinting at potential future highs of $5,000 to $6,000 per ounce.
Additionally, other precious metals are witnessing significant increases, with silver prices nearing $47 per ounce, up nearly 60% this year, while platinum-group metals face heightened market tightness due to regulatory concerns.
“`
