{"id":179856,"date":"2025-10-05T05:01:17","date_gmt":"2025-10-05T05:01:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/179856\/"},"modified":"2025-10-05T05:01:17","modified_gmt":"2025-10-05T05:01:17","slug":"gold-set-for-seventh-straight-weekly-rise","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/179856\/","title":{"rendered":"Gold set for seventh straight weekly rise"},"content":{"rendered":"

\n Sun Aug 24, 2025 12:00 AM
Last update on: Sun Oct 5, 2025 09:50 AM <\/p>\n

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Reuters<\/p>\n

Sun Aug 24, 2025 12:00 AM Last update on: Sun Oct 5, 2025 09:50 AM <\/p>\n

Gold prices rose on Friday, hovering near record highs and heading for a seventh consecutive weekly gain, supported by growing concerns over the economic impact of a prolonged US government shutdown and expectations of interest rate cuts.<\/p>\n

Spot gold rose 0.7 percent to $3,884.19 per ounce by 01:40 p.m. ET (1749 GMT), after hitting a record high of $3,896.49 on Thursday. Prices have gained more than 3 percent this week.<\/p>\n

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US gold futures for December delivery settled over 1 percent higher at $3,908.9 per ounce.<\/p>\n

“I think the longer the government stays shut down, that’s going to be a steady bullish element for the gold market. If they happen to have a surprise weekend agreement to open the government back up, that would probably be a bearish element,” said Jim Wyckoff, senior analyst at Kitco Metals.<\/p>\n

The US Senate will vote again on dueling Democratic and Republican plans to end a government shutdown now entering its third day, though there is no sign that either plan will win passage. The key US non-farm payrolls report, originally slated for release on Friday, has been postponed, leaving investors to lean on alternative indicators that point to a cooling labor market and sustain expectations of an imminent rate cut.<\/p>\n

Investors are pricing in a 97 percent probability of a 25-basis-point rate reduction in October and a 85 percent likelihood of another similar cut in December, according to CME Group’s FedWatch tool.<\/p>\n


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