Gold and silver prices rose to all-time highs amid uncertainty over monetary policy in the United States and the ongoing US government shutdown, which coincides with trade tensions with China.
During Wednesday's trading, December gold futures rose 0.85%, or $35.20, to $4,198.60 per ounce, after touching $4,210 earlier in the session. This brought the most active contract above $4,200 for the first time.
Spot gold rose 0.85%, or $36.55, to $4,179.49 per ounce, after hitting an all-time high of $4,186.68 earlier in the session. Spot silver rose 1.5% to $52.202.
The dollar index, which measures the performance of the US currency against a basket of six major currencies, fell 0.15% to 98.90 points at 7:57 AM Mecca time.
December silver futures jumped 0.95% to $51.10 per ounce, after touching a record high of $51.45. Spot platinum prices rose 1% to $1,651.54, and palladium rose 0.35% to $1,532.83.
Federal Reserve Chairman Jerome Powell said Tuesday that monetary policymakers will make their decisions at each meeting individually regarding any further interest rate cuts, as they seek to balance a weak labor market with inflation remaining above the 2% target
