Gold Edges Higher as Safe-Haven Demand Rises Amid U.S. Government Shutdown and Tariff Uncertainty
Gold prices inched higher on Thursday (November 6), supported by a weaker U.S. dollar and a renewed appetite for safe-haven assets, as concerns grew over the prolonged U.S. government shutdown and uncertainty surrounding the legality of tariff policies.
At the close of trading on November 6, spot gold rose 0.2% to $3,989.91 per ounce, while gold futures were little changed at $3,991 per ounce.
The U.S. dollar slipped 0.3% after touching a four-month high in the previous session, making gold less expensive for holders of other currencies. Meanwhile, the U.S. 10-year Treasury yield fell 1.3%.
With the U.S. government shutdown dragging on and the Supreme Court expressing skepticism over the legality of President Donald Trump’s tariff measures, markets are witnessing a revival in safe-haven demand.
Gold is widely regarded as a hedge during times of uncertainty. The non-yielding precious metal also benefits in a low-interest-rate environment.
The Federal Reserve cut interest rates for the second time this year last week, and markets are now pricing in a 67% probability of another rate cut in December 2025.
A Federal Reserve official scheduled to speak later in the session may offer further clues on the monetary policy outlook.
On November 5, data from ADP showed that the U.S. private sector added 42,000 jobs in October 2025, exceeding Reuters’ forecast for an increase of 28,000 jobs.
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