US shutdown: The United States government has officially shutdown after a vote to extend the federal funding with a midnight deadline failed in the US Senate, triggering fears of a prolonged standoff that could leave thousands of federal employees without pay. As the shutdown takes effect, its impact has rippled across global markets, impacting gold, bond yields, the US dollar, and equities — raising pressing questions about how Indian investors should position themselves.
Gold Surges to Record High
Gold prices rallied to record levels on Wednesday as investors rushed to safe-haven assets amid the shutdown crisis. Spot gold climbed 0.1 per cent to $3,861.99 per ounce, as of 0359 GMT, after touching a lifetime high of $3,875.32 earlier in the session.
The metal is gaining from both global uncertainty and dollar weakness. Experts believe that gold is benefiting from concerns over a weaker dollar, the ongoing political situation with…
