Jin10 data reports on October 16th that the international Spot gold price set a new historical high for the fourth consecutive trading day on Thursday, driven by escalating trade tensions and the U.S. government shutdown. Investors are flocking to this safe-haven asset, while market bets on interest rate cuts further boost the rise. Spot gold briefly touched a record high of 4256.21 USD during the session. OANDA analyst Zain Vawda stated: “The trajectory of gold will depend on the interest rate cut outlook entering 2026 and the developments in trade situations, the latter of which could catalyze gold prices to break through 5000 USD per ounce.” Vawda pointed out that a short-term pullback in gold may only be temporary, as bullish investors often capitalize on pullbacks to get on board.
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