Precious Metals Skyrocket as Shutdown Fuels Safe-Haven Rush – Gold Hits Record, Silver Near $50
Gold surged to nearly $3,889 per ounce Friday, marking a seventh straight weekly gain and approaching a new record. Silver climbed above $48, its highest since 2011, while platinum topped $1,600 on supply concerns. The U.S. government shutdown and expectations of Federal Reserve rate cuts fueled safe-haven buying. Central banks, including China and Poland, increased gold reserves amid rising geopolitical tensions.