Gold surged to a fresh record high of $3,819 per ounce on Monday, extending its rally despite muted market activity. Safe-haven demand strengthened as investors grew increasingly cautious over the looming risk of a U.S. government shutdown, which could disrupt fiscal spending and delay the release of key economic reports.
The metal’s role as a defensive hedge remains firmly in focus, though traders caution that volatility may rise ahead of crucial U.S. data later this week, potentially influencing Federal Reserve policy expectations.
XAU/USD, M30 Chart Analysis | Source: Ultima Market MT5
With gold breaking above $3,800, traders now watch whether this level can hold as the next key support.
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