Quick overview

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Gold reached yet another high, continuing Monday’s rally as the Federal Reserve’s monetary policy outlook ahead of next month’s interest rate decision was clouded by the possibility of a US government shutdown.

Bullion’s gain of up to 0.9 percent pushed it to an all-time high of $3,867.3 an ounce, surpassing the previous session’s peak of 2%.  President Donald Trump did not reach an agreement on the government’s short-term funding during a meeting with top congressional leaders.

The increasing uncertainty surrounding the shutdown may prevent investors from accessing the data they require to assess the US economy.

Meanwhile, Barrick Mining and Newmont announced leadership changes.  Tom Palmer’s departure from Newmont on Dec. 31 was expected, but Barrick’s Mark Bristow’s exit was unexpected. These companies are the two largest gold producers worldwide.

Gold has surged 47 percent this year, setting multiple records for central bank demand and the Fed’s resumption of interest rate cuts, on pace for the largest annual gain since 1979. Deutsche Bank AG and Goldman Sachs have said they expect the rally to continue. As the dollar fell on Monday, US Treasuries also rose, partly due to concerns about a potential shutdown.