Gold Prices Rebound Amid Persistent Demand and Market Uncertainty
Gold prices have surged past $4,260 per troy ounce, recovering from a recent slump that saw the metal dip below $3,970. The rebound comes despite the resolution of the U.S. federal government shutdown, suggesting deeper market forces at play.
Exchange-traded funds continue driving robust investment demand, with UBS analysts projecting a potential 10% upside to $4,700 if political or financial risks escalate. The precious metal remains a favored SAFE haven amid ongoing economic uncertainty.
This rally follows gold's record-breaking performance earlier in October, when prices peaked at $4,360. Market observers note the current environment mirrors conditions that fueled previous highs, with ETF inflows and institutional interest providing sustained support.