Precious Metals Preview: COMEX gold spikes above $4300 mark hitting new all-time highs

COEMX gold futures extend upside to hit a fresh record high above $4300 mark on rising safe haven demand amid ongoing US-China trade tensions and fears of a prolonged US government shutdown. The federal shutdown has entered its third week after the Senate failed to advance legislation that would restore funding. Besides, growing bets of additional US interest rate cuts are weighing on dollar and in turn supporting sharp gains in the yellow metal. Investors eye Fedspeak later on Friday for fresh impetus. Currently, the precious metal is quoting at $4370 an ounce, up 1.5% on the day.

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