10.1.25 - Silver nears record high, gold approaches $4,000

10.1.25 - Silver nears record high, gold approaches $4,000

Gold last traded at $3,865 an ounce. Silver at $47.32 an ounce.

Gold price hits new record high as US enters first government shutdown in seven years -Yahoo! Finance

Government shutdowns bring plenty of negatives, but they also tend to deliver a boost to gold prices. These standoffs are nothing new; we've grown accustomed to the cycle of brinkmanship followed by a last-minute political deal to keep things afloat. But at some point, this approach will run its course, and real consequences will follow.

Gold prices ticked higher on Wednesday, with haven assets looking more attractive as the US government entered its first lockdown in seven years. The precious metal was trading at all-time highs on the continued political uncertainty.

On Tuesday, Senate votes failed to advance either a Republican bill (even as three members of the Democratic caucus crossed party lines to vote 'yes') or a Democratic plan. No compromise plan was offered, ensuring the funding lapse.

Non-essential government departments will cease to function and officials will be put on unpaid leave while the shutdown commences.

The shutdown - the first since a seven-week stoppage during Trump's first term - began at 12:01am ET as the new fiscal year began. That last shutdown took place in 2018 and broke the record for the longest in American history.