Gold eclipses $3,800 as government shutdown looms
Gold () futures opened at $3,788.80 per ounce on Monday, up 0.4% from Friday’s close of $3,775.30. The price of the precious metal moved above $3,800 in early trading.
Gold rose above $3,700 on September 22, the same day the S&P 500 and the Nasdaq Composite closed at record highs. Stocks have since retreated slightly as Wall Street attempts to predict how interest rates will evolve in the short term. Disagreement among Fed governors and, now, the potential for a government shutdown, confuses the issue. A shutdown could pause the flow of economic data that the central bank committee uses to make interest rate decisions. The Trump administration is also threatening mass firings, which would work against the Fed’s attempts to…
