Gold Prices Approaching 4,000 Dollar Threshold

Rise in the Gold Market

With recent developments, gold prices have reached record levels as the U.S. federal government shutdown process extends. The ounce price has risen to $3,920.63, approaching the $4,000 mark and attracting investors' interest.

Economic Uncertainties and Employment Data

The government disruptions in the U.S. have led to the postponement of the employment data expected to be announced on Friday. This situation has further complicated the already complex economic outlook.

Investor Orientation

Due to the lack of data, investors are turning to private sector reports for clearer information about the economic situation. This is causing difficulties for the central bank in making its monetary policy decisions. In the interest rate markets, investors are expecting a quarter-point rate cut by the end of the month, which provides additional advantages for non-yielding gold.

Pepperstone Group Analyst Comments

Pepperstone Group analyst Ahmad Assiri stated, "The central bank's continued interest rate cuts and the weakening labor market are keeping the current environment strong. However, it appears that the risk-return balance is beginning to change; therefore, a short-term pullback can be considered a healthy correction within the long-term upward trend."