Gold prices jumped more than 3% on Tuesday, recovering from a near one-month low, as traders reacted to growing uncertainty caused by a partial U.S. government shutdown.
๐ Key Market Updates:
Spot Gold surged 3.7% to around $4,837/oz, after hitting a monthly low earlier.
U.S. Gold Futures for April climbed 4.5% to nearly $4,859/oz.
The rally comes as key U.S. economic data releases are delayed, including the important January jobs report, due to the shutdown.
๐๏ธ Shutdown Impact:
The U.S. government partially closed after Congress failed to approve funding for several departments, including the Labor Department. Markets are now watching closely for a resolution expected within days.
๐ต Dollar Strength Still a Factor
Despite the rebound, the U.S. dollar remained firm, making gold more expensive for international buyers โ which could limit upside momentum.
๐ Fed Rate Cut Expectations
Investors are still pricing in at least two Federal Reserve interest rate cuts in 2026, which typically supports non-yielding assets like gold.
๐ Trade Deal Headlines
President Trump also announced a major trade deal with India, cutting tariffs sharply in exchange for changes in Indiaโs oil purchases and trade policies.
๐ฅ Silver Leads the Rally
Spot Silver rose nearly 6% to about $84/oz, after touching record highs recently.
โจ Other metals also gained:
Platinum up 3%
Palladium up 2.7%
๐ Precious metals remain highly volatile, with traders focusing on U.S. politics, Fed policy, and currency movements.
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