Gold hits near 3-week peak on rate cut bets, end to US shutdown

Nov 11 (Reuters) – Gold extended gains to a near three-week high on Tuesday, helped by growing expectations of another U.S. Federal Reserve interest rate cut in December and signs of an end to the U.S. government shutdown.
Spot gold was up 0.7% at $4,142.83 per ounce by 0314 GMT, its highest since October 24.
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U.S. gold futures for December delivery rose 0.7% to $4,148.50 per ounce.
The U.S. Senate passed a deal that would restore U.S. federal funding and end the longest shutdown late on Monday.
Key economic indicators such as the U.S. non-farm payrolls report have been delayed due to the federal government shutdown. An end to the shutdown in the coming days will offer more clarity on the U.S. economic outlook and the Fed’s interest rate path.