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Gold Surges to New Record on Safe-Haven Demand, Fed Rate-Cut BetsSingapore, 7 Oct (ONA) — Gold surged to a fresh record high today as investors sought safe-haven assets amid a prolonged US government shutdown and growing expectations of a Federal Reserve rate cut later this month. Spot gold rose 0.4% to $3,974.09 per ounce, trading near its all-time high of $3,977.19 earlier in the session. US gold futures for December delivery gained 0.5% to $3,996.40. The precious metal has climbed 51% so far this year, supported by strong central bank purchases, robust inflows into gold-backed exchange-traded funds, a weaker dollar, and increased demand from retail investors seeking protection amid heightened geopolitical and trade tensions. In other precious metals, spot silver was little changed at $48.52 per ounce, platinum rose 0.1% to $1,626.55, and palladium advanced 0.9% to $1,330.91.— Ends/Khalid
