Gold prices rise above $4,000 per ounce

Gold bars

Gold futures climbed as the prolonged US government shutdown boosted demand for safe-haven assets, though the metal remains on track for weekly losses.

During Friday trading, December gold futures rose 0.35% or $13.30, reaching $4,004.30 per ounce.

Spot gold gained 0.55% to $3,997.96 per ounce, while spot silver jumped 1.15% to $48.58 per ounce.

The US Dollar Index, which measures the greenback’s performance against a basket of six major currencies, edged up 0.15% to 99.86 points as of 09:27 a.m. Makkah time.

December silver futures increased 0.8% to $48.35 per ounce, while spot platinum rose 1.55% to $1,555.43, and spot palladium added 1.6% to $1,399.73.

Markets are now awaiting the preliminary reading of the University of Michigan’s Consumer Sentiment Index, due later today, with expectations pointing to a decline in sentiment for November.