Gold tops $4,000 an ounce as US dollar weakens
Gold prices shot past $4,000 an ounce this week. The main reasons? The US dollar is getting weaker, and worries are growing about a drawn-out government shutdown.
Experts say this upward trend could stick around, although further Federal Reserve rate cuts are less likely, as suggested by recent statements from Chair Jerome Powell.
Silver, platinum, and palladium also gaining ground
The dollar dipping 0.2% has made gold more appealing to international buyers.
Meanwhile, US job growth beat expectations in October, which has changed how likely another rate cut is in December—now it's at 63%.
Other precious metals like silver (up 1.4%), platinum, and palladium are also on the rise as people look for safer investments during uncertain times.
UBS analyst Giovanni Staunovo points out that doubts over tariffs and a weaker dollar are helping drive these price jumps.