Gold Closes at a Record as Shutdown Risk Weakens Dollar, Yields Slip

Fears of a federal shutdown pushed investors toward gold ahead of a payrolls report that could be delayed.

Overview

December Comex gold settled at $3,855.20 per ounce, up 1.21% after hitting $3,862.20 intraday, while the October contract closed at $3,820.90, up 1.18%.
A softer dollar and falling U.S. Treasury yields supported safe-haven buying of the metal.
President Donald Trump set a bipartisan meeting with congressional leaders to try to prevent a shutdown by Tuesday night.
The Labor Department warned that a lapse in funding could halt release of the U.S. payrolls report and other economic data.
Gold is up more than 46% year to date and on track for its best annual gain since 1979, with Bloomberg estimating U.S. Treasury gold reserves now valued above $1 trillion.