The closure of the US government is flying at gold prices to a new peak

Today, gold prices recorded a new record with the support of the increasing demand of investors on the assets of safe haven in the wake of the official start of the US government closure, and after it strengthened weak data on the labor market from the expectations of the Federal Reserve (US Central Bank) to reduce interest rates.

By 03:59 GMT, gold rose 0.1 percent to $ 3861.99 an ounce after he recorded its highest level ever at $ 3875.32.

The US gold futures for December delivery rose 0.7 percent to $ 3901.40.

The dollar index meat is near its lowest level in a week, making it the lowest cost gold for other currencies. Futures on the Wall Street Stock Exchange fell.

“Gold benefits” concerns about the weakness of the dollar, the political situation and the dispute over the closure of the US government in addition to the state of geopolitical uncertainty, “said Nicholas Verbeel, the international director of the institutional markets at ABC.

He added that the expectations are still positive, as it indicates the possibility of the price of gold to more than 3900 dollars and may reach 4000 dollars.

The US government closed most of its activities after deep party divisions prevented the Congress and the White House reached an agreement on financing, which ignited a crisis that could be long and arduous and may lead to the loss of thousands of federal jobs.

The closure may delay the issuance of the non -agricultural job report that has a close follow -up, which is scheduled to be issued on Friday.

On Tuesday, a work opportunities report by the US Department of Labor showed a slight growth in the job opportunities available during August, as well as a decline in employment rates.

Traders are now expected to reduce interest rates by 25 basis points this month, followed by another reduction in December.

Gold, a traditional hedge means in blurring times, usually rises in a low interest rate environment, given that it does not generate returns. The precious metal rose by more than 47 percent this year.

The markets in China, the largest gold consumer in the world, remained closed on the occasion of the mid -fall festival, and will be reopened on October 9.

For other precious metals, silver in instant transactions increased by about one percent to 47.09 dollars an ounce to record the highest level in more than 14 years, platinum fell 0.2 percent to $ 1570.85, and palladium decreased 0.7 percent to 1248.45 dollars.