Gold rose more than 4% on Tuesday, rebounding from a near one-month low hit in the previous session, as market participants braced for an absence of key economic data this week due to a partial U.S. government shutdown.
Spot gold rose 5.14% on Tuesday and is currently trading at $4,900.21 per ounce; spot silver rose 9% to $86.42 per ounce.
The U.S. Bureau of Labor Statistics said on Monday the closely watched employment report for January will not be released this Friday because of a partial shutdown of the federal government.
The government partially shut down on Saturday after Congress failed to approve a deal to keep the Labor Department, among other operations, funded. Though the U.S. Senate passed a spending package on Friday, the House of Representatives was out of town.
The House was due on Monday to take up legislation, with a final vote expected on Tuesday. House Speaker Mike Johnson has expressed optimism that the shutdown would end within days.
