Gold continues to rise in price, setting a new record amid the weakening of the US dollar and the risks of a shutdown. On Monday, December futures quotes on the Comex exchange rose by 1% to $3,858per ounce, exceeding the $3,800 mark for the first time. Concerns are related to the possible suspension of the work of US federal institutions: the temporary financing law expires on September 30. The House of Representatives has already approved the extension until November 21, but the decision now depends on the Senate, where 60 votes are needed to pass the bill with 53 Republican mandates. President Donald Trump intends to meet with the party leaders on September 29. According to UBS analyst Giovanni Staunovo, the combination of expectations of further Fed rate cuts and uncertainty around the shutdown supports interest in gold as a defensive asset. He believes that prices may reach $3,900 per ounce in the near future. Since the beginning of the year, gold has already risen in price by 45%, driven by strong demand from central banks and the Fed's soft policy. Investments in gold ETFs have peaked since 2022, and experts note their key role in the growth of the market. Analysts at Goldman Sachs, JP Morgan Chase and Deutsche Bank predict a continuation of the rally in the coming months.
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