Global stocks steadied Tuesday and gold hovered around a fresh high as investors retreated to safety amid a US government shutdown and French political upheaval.

French shares edged back up while the euro held losses as President Emmanuel Macron called on outgoing Prime Minister Sebastien Lecornu to salvage his administration.

Lecornu, who resigned Monday after under a month in the post, was tasked with gaining cross-party support for a cabinet lineup to pull France out of political deadlock.

London and Frankfurt both rose in midday deals.

Gold hit a fresh peak of $3,977.44 an ounce Tuesday, before slightly paring gains, as investors eyed the US government shutdown, with Republicans and Democrats appearing no closer to an agreement.

Bets on the Federal Reserve cutting interest rates t

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