Gold Flirts with Record Highs

Gold prices rose on Wednesday, staying near record highs as the United States approached a government shutdown. This scenario boosted the demand for the safe-haven asset, while weak U.S. employment data supported expectations of further interest rate cuts.

Gold in spot transactions increased by approximately 0.2 percent to reach $3861.22 per ounce by 0030 GMT. The precious metal saw a significant rise of about 12 percent in September, marking its highest monthly increase since August 2011.

U.S. gold futures for December delivery also went up by 0.4 percent to $3888.80. This year, gold achieved various record levels, with the latest being $3871.45 on September 30.

Regarding other precious metals, silver remained stable in spot transactions at $46.64 per ounce, platinum stood firm at $1573.76, while palladium dropped by 0.4 percent to $1252.25.