Gold prices hit record highs amid US government shutdown
10/2/2025 11:25:00 AM
As uncertainty deepens amid the U.S. government's first shutdown in almost seven years, the gold frenzy continues to climb to new heights.
The going price for New York spot gold hit a record $3,858.45 per troy ounce — the standard for measuring precious metals — as of market close Tuesday, ahead of the shutdown beginning overnight. And futures continued to climb on Wednesday, dancing with the $3,900 mark as of midday trading.
Gold sales can rise sharply when anxious investors seek "safe havens" for parking their money. Before Wednesday, the asset — and other metals, like silver — have seen wider gains over the last year, particularly with President Donald Trump 's barrage of tariffs plunging much of the world into economic uncertainty.
The going price for New York spot gold hit a record $3,858.45 per troy ounce — the standard for measuring precious metals — as of market close Tuesday, ahead of the shutdown beginning overnight. And futures continued to climb on Wednesday, dancing with the $3,900 mark as of midday trading.
Gold sales can rise sharply when anxious investors seek "safe havens" for parking their money. Before Wednesday, the asset — and other metals, like silver — have seen wider gains over the last year, particularly with President Donald Trump 's barrage of tariffs plunging much of the world into economic uncertainty.