Gold prices surged above $3,800 an ounce for the first time on Monday, driven by rising bets on a US Federal Reserve rate cut that weakened the dollar, while concerns over a possible US government shutdown bolstered safe-haven demand.
Spot gold jumped 1.5% to $3,816.79 per ounce by 0923 GMT, after hitting $3,819.59 earlier in the session.
US gold futures for December delivery rose 1% to $3,846.60.
The US dollar index (.DXY), opens new tab fell 0.3%, making greenback-priced bullion less expensive for overseas buyers. US President Donald Trump will meet with the top Democratic and Republican leaders in Congress later on Monday to discuss extending government funding. Without a deal, a shutdown would begin from Wednesday.
