Gold Breaks $3,800 As Fed Cut Bets And U.S. Shutdown Fears Fuel Record Rally Amid Geopolitical Uncertainty

Benzinga

Gold broke above $3,800 an ounce to a record high on Fed rate cut hopes and U.S. shutdown fears. Analysts cite geopolitical risks, central bank buying, and strong demand as drivers, with UBS targeting $3,900 ahead.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Global stocks climbed and the dollar fell on Monday as investors raised for a potential

00:05U.S. government shutdown that could delay key economic data releases, according to Reuters.

00:10The MSCI All World Index rose 0.16%, while Europe's stock 600 gained 0.3%,

00:16tracked for a 1.1% September increase and its third consecutive monthly rise.

00:21Gold jumped 1.6% to a fresh record of $3,819.59 an ounce,

00:26turned by a weaker dollar and concerns over prolonged political gridlock.

00:30Analysts at Bank of America warned a closure to leave the Federal Reserve relying on private data

00:34when it leads on October 29th, potentially lowering the odds of a rate cut.

00:38S&P 500 and NASDAQ futures rose, while 10-year Treasury yields fell,

00:43reflecting shifting expectations on Fed rate cuts after strong U.S. economic data.

00:47Oil prices slid with Brent down 1.65%, $68.97,

00:52as Iraq resumed pipeline close to Turkey and had an OPEC-plus meeting expected to approve a production high.

00:58But for all things money, visit Benzinga.com.

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