Gold price hits new all-time record

Gold prices surged to a record high on Wednesday, driven by investor demand for safe-haven assets after the start of the U.S. government shutdown and as soft labour data bolstered expectations of Federal Reserve rate cuts, Euronews writes.

Spot gold was up 0.1% at $3,860.13 per ounce, as of 0613 GMT, after hitting an all-time high of $3,875.32.