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

Global gold prices jumped more than 3% on Monday, rebounding from a near one-month low due to the partial shutdown of the US government. Spot gold rose 3.7% to US$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 US$5,594.82 per ounce on January 29. US gold futures for April delivery climbed 4.5% to US$4,859.30 per ounce. Other precious metals also advanced, with spot silver jumping 5.9% to US$84.09 per ounce and spot platinum rising 3% to US$2,183.64 per ounce. The US government's partial shutdown since January 31 has impacted economic reporting, with the Bureau of Labor Statistics postponing the January employment report. House Speaker Mike Johnson expressed confidence the shutdown would end within days. Investors are anticipating potential Federal Reserve interest rate cuts and monitoring the impact of a stronger US dollar on precious metal prices.