Gold prices reached a new record high today, Wednesday, supported by increased investor demand for safe-haven assets following the official start of the U.S. government shutdown, and after weak labor market data boosted expectations that the Federal Reserve (the U.S. central bank) will cut interest rates.
Spot gold rose 0.1 percent to $3,861.99 per ounce after reaching an all-time high of $3,875.32. Meanwhile, U.S. gold futures for December delivery climbed 0.7 percent to $3,901.40.
