Gold prices surpassed 3,900 dollars per ounce for the first time on Monday, driven by strong demand for safe-haven assets amid the U.S. government shutdown and growing expectations of further interest rate cuts by the Federal Reserve.
Spot gold increased by 0.4 percent to 3,900.40 dollars per ounce, after hitting an all-time high of 3,919.59 dollars earlier in the session. U.S. gold futures for December delivery rose 0.5 percent to 3,926.80 dollars.
As for other precious metals, silver prices remained steady at 47.98 dollars per ounce, platinum gained 0.5 percent to 1,613.15 dollars, and palladium increased by 0.2 percent to 1,263 dollars.
