The post XAU/USD stays close to fresh highs above $3,850 appeared on BitcoinEthereumNews.com.

Gold price reached a fresh all-time high of $3,871 on Tuesday. Bullion gained support as soft US jobs data raised expectations of Fed rate cuts. The safe-haven Gold attracts buyers due to worries over a potential US government shutdown. Gold price (XAU/USD) continues its winning streak for the fifth successive session, hovering, during the Asian hours on Wednesday, around its fresh all-time high of $3,871 per troy ounce, which was recorded on Tuesday. The price of the non-interest-bearing bullion received support as soft United States (US) jobs data increased the odds of Federal Reserve (Fed) rate cuts. Gold is showing remarkable resilience again, effortlessly clawing back early losses after uninspiring US Job Openings and Labor Turnover Survey (JOLTS) that won’t stand in the way of another rate cut in a month,” Reuters cited an independent metals trader Tai Wong. The latest Job Openings in the US showed the labor market is slowing, yet vacancies rose from 7.21 million to 7.23 million in August. Meanwhile, the hiring rate edged down to 3.2%, the lowest level since June 2024, while layoffs remained at a low level. The CME FedWatch Tool suggests that markets are now pricing in nearly a 97% chance of a Fed rate cut in October and a 76% possibility of another reduction in December. Rising expectations of further Fed rate cuts weighed on the US Dollar (USD), making Gold cheaper for overseas buyers and boosting bullion demand. Gold price found support amid concerns over a looming US government shutdown. Washington prepared for the risk on Tuesday, with Republicans and Democrats still deadlocked and unlikely to reach a deal before the midnight funding deadline. The US Labor Department said Monday that its statistics agency would suspend data releases, including Friday’s closely watched monthly jobs report, if a partial shutdown occurs,”…

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Filed under: News - @ October 1, 2025 4:26 am