Gold extends rise as Trump signs deal to lift shutdown

Gold rose for a fifth straight session on Thursday to hit its highest in more than three weeks, buoyed by expectations that the US government reopening will restart the flow of economic data and boost bets for further interest rate cuts. Spot gold was up 0.4% at $4,214.52 per ounce, as of 0521 GMT, hitting its highest since October 21. US gold futures for December delivery rose 0.1% to $4,218.20 per ounce. “Gold is extending its winning streak driven by a weaker dollar, expectations of Federal Reserve rate cuts, and persistent central bank accumulation,” said Jigar Trivedi, senior research analyst at Reliance Securities. “While near-term consolidation is possible after rapid gains, the broader outlook remains constructive. There is a scope for highs above $4,300/oz by the year end, provided real yields stay subdued and monetary policy remains accommodative.”