TechFlow, September 29 — Gold prices edged higher after rising for a sixth consecutive week, as traders considered the possibility of a U.S. government shutdown, which could delay the release of key employment data this week and cast uncertainty over the Federal Reserve's monetary policy path.
Spot gold opened strong on Monday, reaching a record high of $3,798 per ounce, approaching the psychological level of $3,800. Prices rose 2% last week, supported by increased inflows into gold ETFs and escalating geopolitical tensions in regions including Russia and Europe, boosting safe-haven demand.
Investors are closely watching a planned meeting on Monday between top congressional leaders and President Trump. If no agreement is reached on a short-term spending bill, federal funding will expire on Tuesday. A government shutdown would threaten the release of critical data, including Friday’s jobs report, with analysts expecting a slowdown in September employment growth.
