Gold Prices Surge 3%, Climbing Above $4,800

Global gold prices jumped more than 3% on Monday, rebounding from a near one-month low as market participants navigated a week with limited economic data due to the partial US government shutdown. Spot gold rose 3.7% to $4,837.16 per ounce, recovering after falling to its lowest level in nearly a month in the previous session. The metal had previously surged to a record high of $5,594.82 per ounce on January 29. US gold futures for April delivery climbed 4.5% to $4,859.30 per ounce. Other precious metals also saw gains, with spot silver jumping 5.9% to $84.09 per ounce and spot platinum rising 3% to $2,183.64 per ounce. The ongoing US government shutdown, which began on January 31, has impacted several agencies, including the Department of Labor. House Speaker Mike Johnson expressed confidence that the shutdown would end within a few days. Investors are anticipating potential Federal Reserve interest rate cuts in 2026, which could further impact gold prices, as the metal typically performs better in low-interest-rate environments.