Gold Nears $4,000 As Shutdown Delays Jobs Data, Clouds Fed Path

Benzinga

Gold hit a record $3,893 an ounce as the U.S. entered its first government shutdown in nearly seven years. The closure delays key jobs data and clouds the Fed’s outlook, while Trump suggested using it to cut federal workers. Analysts say instability, inflation, and tariffs could push gold above $4,000 soon.

Transcript

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

00:02Gold prices surged to record highs on Wednesday as the U.S. government entered its first shutdown

00:06in nearly seven years after lawmakers failed to strike a funding deal, according to CNBC.

00:11Shutdown would lay key jobs data due Friday, clouding the Federal Reserve's outlook ahead

00:15of its next meeting. President Donald Trump said he may use the shutdown to cut federal workers,

00:19who were typically furloughed and later reinstated. Spot gold traded at $3,893.06 an ounce

00:25by 5.02 a.m. Eastern Time, marking the medal's 39th record this year.

00:30Analysts cited political instability, ongoing conflicts, tariffs, and sticky global inflation

00:36as key drivers. The sub-rejecting price has consumed top $4,000.

00:40For all things money, visit Benzinga.com.

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