Gold prices rose above $4,190 per ounce on Friday, heading for their best week in a month, driven by a softer dollar and uncertainty over a backlog of official data following the US government’s reopening. National Economic Council Director Kevin Hassett noted that certain October figures may “simply never show up,” as some agencies were unable to collect data during the shutdown. While some of these releases could appear soon, others may be lost entirely, fueling renewed caution about the country’s economic outlook. Still, the metal’s gains were capped as Federal Reserve officials showed little conviction for additional monetary easing. Markets have scaled back expectations for a December Fed rate cut, now assigning roughly a 50% probability to a 25-basis-point reduction, down from more than 95% a month ago, while bets on cuts in 2026 remain unchanged.