Gold Rises Near $4,190 on US Shutdown Progress

Gold prices edged higher on Friday, stabilizing near $4,190 per ounce as the United States advanced toward ending its record-long government shutdown, a development that could clarify the Federal Reserve's path on interest rates. The precious metal, which has surged more than 60 percent year-to-date, reflected investor optimism over potential monetary easing amid signs of a softening labor market, even as a stabilizing dollar tempered some gains.

Spot gold rose 0.4 percent to $4,188.93 per ounce in early Asian trading, positioning bullion for a weekly increase of about 4.8 percent. U.S. gold futures for December delivery held steady at $4,191.90. The movement came after a two-day decline earlier in the week, with prices rebounding from around $4,080 following progress in congressional negotiations. Silver also advanced, climbing 1.2 percent to $52.95 per ounce and on track for its strongest weekly performance since September, while platinum and palladium posted modest gains of 1 percent and 1.2 percent, respectively.

The U.S. Senate passed a bipartisan stopgap funding bill on Monday with a 60-40 vote, paving the way for the House of Representatives to consider the measure as...