Gold Surges to Record on Weaker Dollar, Risk of US Shutdown

Gold climbed to a record above $3,800 an ounce as precious metals surged, boosted by a weaker dollar as investors weighed a potential US government shutdown.

Bullion rose as much as 2% to an all-time high of $3,833.59 an ounce — eclipsing a peak reached last Tuesday — after notching six straight weekly gains. Silver increased as much as 2.4%, while platinum and palladium also rallied strongly, with advances underpinned by persistent market tightness and inflows into exchange-traded funds backed by the metals.