The price of gold is rising rapidly amid growing inflation risks in the United States and expectations of interest rate cuts, supporting safe-haven demand.

The news that the US government shutdown is expected to end soon has stimulated the gold price to achieve its largest single-day increase since May. Gold, which surged 2.9% on the previous trading day, rose to about $4140 per ounce. A bipartisan agreement, endorsed by President Donald Trump, is expected to end the government shutdown as early as Wednesday. This development is expected to provide traders with a clearer understanding of when the Federal Reserve will cut interest rates again. Economic data that has been delayed due to the government shutdown will be released once the government reopens, allowing crucial indicators of the US economy to be revealed. The related data is expected to show a deteriorating outlook, potentially providing a catalyst for easing monetary policy and further strengthening the attractiveness of gold. London Metal Exchange's copper futures contract also saw a small increase. At 10:41 London time, the gold price rose by 0.6% to $4139.46 per ounce. The Bloomberg Dollar Spot Index rose by 0.1%. Silver, platinum, and palladium also saw gains.