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Gold price record hike: Gold created a new history on Monday. For the first time, the price of gold crossed $ 3900 an ounce. In early trade, gold touched an all -time high level of $ 3919.59 an ounce. This fast was mainly due to the possibility of the US government being shut down and the expectations of the Federal Reserve deduction in interest rates. The December delivery US futures price rose 0.7 percent to $ 3935 an ounce. They are looking for safe investment due to shutdown. Along with this, people hope that the Federal Reserve (FED) will cut further interest rates.

The biggest reason for the rise in the price of gold

Non-centered gold is often beneficial in the era of low interest rates and economic uncertainty. This is the reason that so far this year the price of gold has increased by 49 percent. In 2024, it also recorded an increase of 27 percent.

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Gold spot price rose 0.4% to $ 3,900.40 an ounce, while earlier it reached a record level of $ 3,919.59 during trading. The US gold futures for December delivery increased by 0.5% and it increased to $ 3,926.80.

Government Shutdown and Warning of Sorting

A senior White House official said on Sunday that if President Donald Trump feels that there is no result of a conversation with Democrats in the Congress, the Trump administration will start sorting the government employees on a large scale.

Expected to cut fed rates

Federal Reserve Governor Stephen Miran once again advocated a sharp cut in interest rates on Friday, as the economic impact of the policies of Trump administration is serious.

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Holdings of SPDR Gold Trust decreased to 1,014.88 metric tons on Friday, which is the world’s largest gold-back ETF. Despite the record prices of gold in India, the festive season saw an increase in physical demand. On the other hand, the Chinese market remained closed due to holidays.

Prices of other precious metals

• The price of silver remained stable at $ 47.98 an ounce.

• Platinum rose 0.5% to $ 1,613.15 an ounce.

• The palladium recorded an increase of 0.2% and reached $ 1,263 an ounce.

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