Gold rose to a record high of $3,800 an ounce for the first time, as precious metals prices rose and traders weighed a potential U.S. government shutdown that could delay key jobs data this week, overshadowing the Federal Reserve’s monetary policy.
Gold rose as much as 1.4 percent to a new record high of $3,812.05 an ounce, surpassing a peak reached last Tuesday after posting six straight weekly gains. Silver rose as much as 2.4 percent, while platinum and palladium also rose strongly.
The dollar fell as investors awaited developments ahead of a planned meeting between top U.S. congressional leaders and President Donald Trump on Monday, a day before federal funding runs out if no deal is reached on a short-term spending bill.
The closure would jeopardize key data releases, including Friday’s payrolls report, which economists expect to show subdued job growth in September.
A weaker dollar makes precious metals cheaper for most buyers.
