Gold continues to rise in prices against the rear of weakening of the dollar and fear of suspension of the work of federal USA institutions – Shatdown.
Gold prices have risen again and for the first time in history the line of $ 3800 per ounce. This was confirmed by Comex Exchange data on Monday, September 29th.
Thus, during the trading of December futures quotes for precious metal, 1.22% increased and reached $ 3855.3 per ounce. Since the beginning of the year, gold rose by 45%.
According to Western agencies, gold continues to rise in prices against the rear of weakening the US dollar exchange rate and fear of sucking on the work of US Federal Institutions – Shatdown, which could occur on September 30.
Earlier, the House of Representative of Congress approved the bill for expanding temporary financing until November 21. Now it should be approved by the Senate. Republicans have 53 votes out of 100, and 60 votes are required to approve the bill.
US president Donald Trump is now planning to meet with Republicans and Democrats in the House of Representative and Senate.
Since the beginning of 2025, gold has increased in prices by 45% due to demand from central banks and reduces US Federal Reserve (FED) interest rates. Prices are expected to complete the third quarter in line with plus. At the same time, the amount of investment in ETF, provided by precious metal, has been at the highest level since 2022.
Deutsche Bank Research Analysts believes that the price of gold will increase, especially if the US Federal Reserve’s soft financial policy is preserved.
Remember, on September 16, gold was “struck” by a line of $ 3700 per ounce. Then the rising price is also promoted by weakening the dollar to expectations of reduction in US Federal Reserve interest rates.
It is also reported that gold became the second most popular owner in the international reserves of World Central Banks in 2024, which exceeded the Euro.
News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.