High economic uncertainty/Gold prices reach record levels in Europe and the US

The price of gold climbed to a new record on Monday, rising above $3,850 an ounce in Europe, up more than 1% on the day.

Precious metals across the sector rose, driven by a weak dollar and high uncertainty around funding for the U.S. federal government.

On Monday, U.S. President Donald Trump and the Republican Party are meeting with Democrats to discuss a short-term spending bill to avoid a government shutdown on Tuesday. Republicans need at least seven votes from Democrats to pass the legislation.

Uncertainty is high, which historically sees investors flock to so-called safe-haven assets like gold. The precious metal is a more stable option in turbulent times when other asset classes are much more volatile./ CNA

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