Expectations of a US interest rate cut and inflation risks supported safe-haven demand, driving gold prices higher.

Gold prices continued their upward momentum, buoyed by news that the US government shutdown is expected to end soon. Gold, which had surged 2.9% in the previous trading session, rose to approximately $4,140 per ounce. A bipartisan agreement endorsed by President Donald Trump is expected to end the government shutdown as early as Wednesday. This development should give traders a clearer picture of when the Federal Reserve will cut interest rates again. The economic data delayed by the government's reopening will be released, bringing this crucial barometer of the US economy back into focus. Such data is expected to show a deteriorating outlook, potentially catalyzing monetary policy easing and further enhancing the appeal of gold. Copper futures contracts on the London Metal Exchange also rose slightly. At 10:41 AM London time, gold prices were up 0.6% at $4,139.46 per ounce. The Bloomberg Dollar Spot Index rose 0.1%. Silver, platinum, and palladium also gained. (Jinshi)