Gold prices inched higher on Thursday (Nov 6), supported by a weaker USD and renewed safe-haven demand amid concerns over the prolonged U.S. government shutdown and uncertainty surrounding the legality of tariff policies.
At the close of trading on Nov 6, spot gold rose 0.2% to 3,989.91 USD/oz. Gold futures were nearly flat at 3,991 USD/oz.
The U.S. dollar slipped 0.3% after hitting a four-month high in the previous session, making gold less expensive for holders of other currencies. The U.S. 10-year Treasury yield fell 1.3%.
With the U.S. government shutdown and skepticism from the Supreme Court regarding the legality of President Donald Trump’s tariff levels, the market is seeing a resurgence in safe-haven demand.
Gold is considered a hedge during times of uncertainty. The non-yielding metal also benefits in a low-interest-rate environment.
The U.S. Federal Reserve (Fed) cut interest rates for the second time this year last week, with markets pricing in a 67% probability of another rate cut in December 2025.
A Fed official is expected to speak later in the session, which may offer additional clues about monetary policy outlook.
On Nov 5, an ADP report showed that the U.S. private sector added 42,000 jobs in October 2025, higher than Reuters’ forecast of a 28,000-job increase.
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