Precious Metals Preview: COMEX gold gets fresh lift above $3880 mark; September set for over 10% gain

COMEX gold futures surged to hit yet another lifetime high in early Asian trades on Tuesday amid heightened uncertainty surrounding US government shutdown. The yellow metal is racing ahead for a monthly gain of over 10%. Investors are seen flocking for the safe haven commodity as the risk of a federal government shutdown looms with the Oct. 1 funding deadline nearing. Moreover, possibility of future Fed rate cuts is also boosting gold prices. Currently, the counter is up 0.60% at $3878.50 an ounce after hitting a high of $3886 earlier in the day.

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