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Gold Breaches $3,800 as Traders Weigh Shutdown Risk, Fed Rates
['Mon September At Am Bst', 'Min Read']
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A shutdown would threaten the release of key data including Friday’s payrolls report, which economists expect would show subdued jobs growth in September.
A weaker greenback makes precious metals cheaper for most buyers.
Weaker employment figures would bolster the case for easing by Fed officials at their next rate decision in October — a scenario that would make non-interest bearing precious metals more attractive.
Gold has soared 45% this year, setting successive peaks on central-bank demand and a resumption of interest-rate cuts by the Fed.
Banks including Goldman Sachs Group Inc. and Deutsche Bank AG have said they expect the rally to extend.