#GoldHitsRecordHigh

- *Current Price*: Gold spot price rose 0.3% to $3,843.43 per ounce, with U.S. gold futures for December delivery settling 0.5% higher at $3,873.20.

- *Record High*: Prices hit a record high of $3,871.45 during Asian trading, and Commerzbank's commodity analyst Barbara Lambrecht notes that gold surged to a new all-time high above $3,850 per troy ounce.

- *Driving Factors*:

- *US Government Shutdown Fears*: Concerns over a looming US government shutdown have boosted safe-haven demand for gold.

- *Soft Jobs Data*: Soft jobs data has bolstered expectations of Federal Reserve rate cuts, further supporting gold prices.

- *Central Bank Demand*: Central banks have been hoarding gold, with purchases rising above 1,000 tons for three consecutive years.

- *ETF Inflows*: Gold ETFs have seen significant inflows, particularly from North American investors, contributing to the price surge.

Some analysts predict that gold prices could continue to rise, with potential targets ranging from $4,000 to $5,000 per ounce.