Gold: XAU Breaks $4,300 as Record Rally Continues.

Gold prices climbed to fresh record highs for the fourth consecutive session on Thursday, surpassing $4,300 an ounce as investors sought safety amid rising US-China trade tensions and the ongoing US government shutdown. The precious metal has surged more than 60% so far this year, supported by strong central bank buying, expectations of aggressive rate cuts, and heightened geopolitical risks. Fed Chair Jerome Powell’s recent comments on signs of a weakening labor market led investors to nearly fully price in a 25-bps rate cut at this month’s meeting, with another likely in December, boosting gold’s appeal in a low-interest-rate environment. On the trade front, US officials on Wednesday condemned China’s tighter rare earth export restrictions, warning they threaten global supply chains and signaling potential US countermeasures.