Gold shines bright amid looming US government shutdown
Gold's trading near $3,865 an ounce—just shy of its all-time high—as investors get jittery about a possible US government shutdown, the first in nearly seven years.
If it happens, key US economic data could be delayed, making markets even more uncertain.
So far this year, gold's price has soared more than 47%, showing how people turn to it when things feel shaky.
Analysts predict gold could hit $3,955 per ounce soon
Analysts think gold could soon test $3,955 per ounce.
Plus, there's been a surge in people putting money into gold-backed ETFs—basically funds that track the price of gold—highlighting growing interest from investors who want stability.
Central banks' big gold buys are making waves
Lower interest rates from the Federal Reserve and big purchases by central banks are fueling demand for gold.
September saw the biggest monthly inflow into gold ETFs in three years.
With inflation still high and signs that the job market is cooling off in the US, experts say we might see more rate cuts—and continued love for precious metals like gold.