HSBC said gold could trade above $4,000 per ounce in the near term, driven by geopolitical risks, fiscal uncertainties, and threats to the Federal Reserve’s independence.

“Rallies can continue into 2026 aided by official sector buying; institutional demand for gold as a diversifier can stay robust,” the bank said in a note dated Friday.

Spot gold scaled a record high of $3,896.49 on Thursday amid elevated uncertainty from a U.S. government shutdown and rising expectations of interest rate cuts. [GOL/]

The U.S. Senate will vote again on Friday on dueling Democratic and Republican plans to end a government shutdown now entering its third day, though there is no sign that either plan will win passage. The shutdown, the 15th since 1981, has suspended scientific research, economic data repor

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