Gold hits record close, posts monthly, quarterly gains

Gold prices are on track for their best monthly performance in 14 years.

Gold prices rose in Tuesday’s settlement, with the most active futures contracts closing at a record high for the 39th time in 2025, amid US government shutdown concerns and expectations that the Federal Reserve will continue easing borrowing costs.

December gold futures gained 0.46%, or $18, to $3,873.2 an ounce, marking monthly and quarterly gains of 10.15% and 15.17%, respectively.

The rise followed US President Donald Trump’s comments suggesting a partial federal government shutdown by midnight due to stalled negotiations between Democrats and Republicans over a short-term funding bill.

Official data also showed US job openings remained steady in August, while employment edged slightly lower, signaling potential weakness in the labor market of the world’s largest economy.

Meanwhile, Trump continued to pursue his protectionist trade agenda, announcing tariffs on imports of lumber and certain furniture products.