Gold Gains as Data Stokes US Economic Concerns Amid Shutdown

Economic Sentiment - Gold prices advanced as investors sought a safe haven due to weakening economic indicators in the US [1] - Consumer sentiment has deteriorated, with 71% of respondents in a University of Michigan report expecting unemployment to rise in the coming year [1] Market Reactions - Bond yields and the US dollar declined following the economic readings, which contributed to a boost in gold prices [2] - Gold is trading relatively unchanged from the previous week after experiencing two consecutive weeks of losses, but it remains up over 50% year-to-date, marking its best performance since 1979 [3] Influencing Factors - Rate cuts in the US and increased central bank purchases have supported gold prices [4] - The ongoing government shutdown, now the longest in US history, complicates the assessment of the US economy, making private firm data more critical [4] Precious Metals Overview - Silver prices have risen for three consecutive sessions, with the US adding silver to a list of critical minerals, which may lead to tariffs and trade restrictions [5] - Any potential duties on silver could impact the metals market significantly, as the US heavily relies on imports to meet demand [5]