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Gold extends September rally, up $400 this month
30-Sep-2025, 02:43
Gold prices surged to a fresh record of $3899.2 per ounce in electronic trades on Tuesday as investors flocked to safe-haven assets amid rising fears of a US government shutdown and growing bets on further Federal Reserve rate cuts. Talks between President Trump and congressional leaders failed to secure a short-term funding deal, raising the risk of a shutdown from Wednesday that could delay key economic releases, including the September nonfarm payrolls. The record rally triggered some profit taking, with international bullion slipping 0.2% and MCX gold futures also easing 0.2% after scaling ₹117788 per 10 grams. Despite the pullback, bullion has rallied more than 10% in September, gaining nearly $400 this month alone. Traders now turn to Friday's jobs report, job openings, private payrolls and ISM PMI for fresh policy cues.
Gold prices surged to a fresh record of $3899.2 per ounce in electronic trades on Tuesday as investors flocked to safe-haven assets amid rising fears of a US government shutdown and growing bets on further Federal Reserve rate cuts. Talks between President Trump and congressional leaders failed to secure a short-term funding deal, raising the risk of a shutdown from Wednesday that could delay key economic releases, including the September nonfarm payrolls. The record rally triggered some profit taking, with international bullion slipping 0.2% and MCX gold futures also easing 0.2% after scaling ₹117788 per 10 grams. Despite the pullback, bullion has rallied more than 10% in September, gaining nearly $400 this month alone. Traders now turn to Friday's jobs report, job openings, private payrolls and ISM PMI for fresh policy cues.
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