The price of an ounce of gold continued to rise on Tuesday morning. After reaching $3,850 on Monday night, it rose to $3,870 on Tuesday, buoyed by the risk of budgetary paralysis in the United States, the so-called “shutdown”. +Get the most important news from Switzerland in your inbox At around 7:35am on the last day of September, the price of the precious metal was up 0.9% at $3,867.55 an ounce. It is heading for “its biggest monthly rise in fourteen years, as investors rush to safe havens amid growing concerns over the threat of a US government shutdown and expectations of a further rate cut by the Federal Reserve”, commented Trading Economics. If no budget, even a temporary one, is adopted by Tuesday in Washington, the US will experience another shutdown, which could delay the publication of several indicators as government agencies shut down. The market is awaiting the monthly ADP report on private sector job creation for September, due on Wednesday. The US unemployment rate ...
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