As of 05:07 GMT, the price of the December gold futures on the New York Comex exchange increased by $45.87 or 1.15% to $4,050.27 per troy ounce. Earlier, it reached $4,051.55 per troy ounce, which marked a new all-time record.
A day earlier, the market price of gold had settled above $4,000 per troy ounce, also setting a new record. To a large extent, this market sentiment has been driven by the partial shutdown of US government agencies funded by Congress, due to the absence of an approved budget for the next financial year — the so-called government shutdown. However, such situations are not particularly uncommon.