Gold Prices Approach $4,000 an Ounce as Dollar Declines

SadaNews Economy - Gold prices rose today, Friday, approaching the $4,000 per ounce level, supported by a decline in the U.S. dollar, while the prolonged government shutdown in the United States has raised concerns about the U.S. economic outlook.

The spot gold price increased by 0.3 percent to $3,995 per ounce by 9 AM Singapore time.

U.S. gold futures contracts for December rose 0.8 percent to $4,024.60 per ounce.

Gold is on track to record a slight weekly decline for the third consecutive week, marking its longest losing streak since the beginning of the year.

Despite falling from a record level exceeding $4,380 an ounce last month, the metal has risen by more than 50 percent since the beginning of 2025, approaching its best annual performance since 1979.

Spot silver rose 1.3 percent to $48.69 per ounce, while platinum increased by 0.4 percent to $1,568.26, and palladium fell by 0.8 percent to $1,407.41 per ounce.