Precious Metals Preview: Gold surges past crucial $4k mark

COMEX gold extends spike ahead of $4k mark on safe haven demand amid ongoing geo-political tensions in different regions and prolonged US government shutdown. The US federal government remained shuttered for the sixth day on Monday, with the Senate struggling to reach consensus on a Republican-backed spending bill amid calls for the continuation of healthcare subsidies. Besides growing possibility of Federal rate cut is only likely to weigh on dollar and prop up the yellow metal further. Currently, the counter is quoting at $4028.40 an ounce, up over half a percent on the day. Investors look forward to speeches from influential FOMC members, including Fed Chair Jerome Powell's appearance on Thursday.

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