FX.co ★ Gold Hits New High

Gold prices soared over 2% on Monday, reaching unprecedented highs by trading at over $4,345 per ounce. This surge is fueled by expectations of further interest rate cuts by the Federal Reserve and the continued demand for gold as a safe-haven asset. Despite signs of a potential resolution, the US government shutdown persists. White House economic adviser Kevin Hassett remarked to CNBC that the shutdown is "likely to end sometime this week," but uncertainty lingers. Additionally, investors have their eyes on upcoming trade discussions between the United States and China. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are slated to meet in Malaysia this week to revive talks following the recent escalation in trade tensions. President Trump remains optimistic about reaching an agreement, labeling the previously threatened high tariffs on Chinese imports as "unsustainable." Gold has risen by more than 60% so far this year.