Gold Prices Break Records Amid US Shutdown

Other precious metals also rose significantly in price.

Amid the U.S. shutdown, gold prices hit a record high of $3,875 an ounce, setting a record for the third consecutive session.

According to Reuters.

So, on Wednesday, October 1, futures on the New York exchanges (S&P 500 and Nasdaq) fell 0.5%, while gold prices rose to $3,875 an ounce.

At the same time, European futures were reported to be almost unchanged.

By the way, gold has already risen more than 45% this year, showing steady demand from central banks and investors.

Prices of other precious metals

Prices of other precious metals also rose significantly this week as demand for safe-haven assets spread from gold to platinum and silver.

The spot price of silver rose 0.9% to $47.0525 an ounce on Wednesday, while the spot price of platinum fell 0.3% to $1,572.18 an ounce.

Since the start of 2025, silver prices have risen 62% and platinum prices have risen 76%.

The outlook for precious metals

According to the CME FedWatch tool, investors are laying out a 90% probability of a 25 basis point rate cut in October. Another correction is possible in December, with an estimated 75% probability.

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