The long-awaited IPO revival is poised to slow if the ongoing US government shutdown lingers, putting billions of dollars worth of deals on hold. Initial public offerings for companies ranging from travel software startup Navan Inc. to Andersen Group Inc., the tax and advisory firm led by former partners of the firm that collapsed as a result of the Enron scandal, are left in limbo as the US Securities and Exchange Commission remains largely shuttered. These companies are among the handful of listing candidates that could’ve begun formally marketing their deals to investors as soon as Monday. Instead, with no deal to end the congressional impasse on the horizon, industry lawyers are advising their IPO clients to sit tight. Yet a shutdown that drags on for weeks or months would derail carefully choreographed listing timetables. Worse, a lengthy dispute could halt a stock market that’s rallied to a string of records — and supported a rebound in deal volume. “If this is a couple weeks at most, I don’t think we’ll see too much to worry about,” said Dave Peinsipp, co-chair of Cooley’s global capital markets practice. “If it takes a month or longer or goes into 2026 then we’ve got some real problems — but we’re not there yet.” IPOs have been humming along, with $33.4 billion raised in the US through October 5, according to data compiled by Bloomberg. That’s already above the total raised in all of 2024. Washing machine maker Alliance Laundry Holdings Inc. and University of Phoenix owner Phoenix Education Partners Inc. have approval from regulators to go public this week, in what could be the last notable IPOs for however long the dispute over funding the government lasts. Any extension of a shutdown would threaten to hold up companies that targeted going public before next month’s Thanksgiving holiday, with the window before year-end holidays offering only a narrow time frame to push through deals. The likes of Navan, Andersen Group and BitGo Holdings Inc. filed for IPOs earlier in September, making them the first to be impacted by the SEC not being able to declare registrations effective. Ethos Technologies Inc., Beta Technologies Inc., and Once Upon a Farm PBC are still in the middle of a 15-day waiting period before they can begin formal marketing.

Companies that want to go public before the Nov. 27 holiday but that aren’t yet publicly on file have until about Oct. 28, in order to fulfill a 15-day holding period and leave time for a week of marketing, lawyers say. For these firms, the shutdown starts to have a real impact if it stretches past the first full week of October. “Clients who are going through IPOs are concerned about how long it might last and are trying to come up with game plans if it lasts longer than a few days,” said John Ericson, a partner at Simpson Thacher & Bartlett. “It’s tight just because there are limited windows from here to the end of the year to actually execute, just for market purposes.”

Risk of Pullback

The calendar issues aren’t simply about logistics. For dealmakers, every day that they can’t get listing paperwork approved increases the risk of a market pullback that could kill the sentiment that’s been helping carry IPO volume closer to pre-pandemic norms. The S&P 500 Index closed at another record and has returned more than 15% this year, and a closely-watched gauge of small stocks is just shy of a September all-time high, as investors pile into anything related to artificial intelligence and cryptocurrencies. Further delays would open up companies to the threat of investors having distractions like quarterly earnings — which will ramp up next week — as well as closely-watched economic data and what could prove to be a pivotal Federal Reserve decision on Oct. 29. People are excited about the types of companies going public right now, and deals have been “firing almost on all cylinders,” said Lowenstein Sandler partner Daniel Forman. “An extended shutdown could cool a lot of the momentum that’s in the IPO market right now.” US IPOs have so far weathered more than their share of volatility. Dealmaking bounced back from the shock imposition of tariffs in April, and many of the listings delayed during that episode have since been completed. Still, after years of waiting for confidence to return, the industry is all too aware of how easily it can vanish. “We’re absolutely on a week-to-week basis and have been for 2025,” said Cooley’s Peinsipp. “The margin of error gets smaller when you take away a couple weeks that otherwise looked pretty good.”

(Bloomberg) — Gold rose to a record, nearing $4,000-an-ounce, as looming US interest rate cuts and the prospect of a prolonged federal government shutdown lifted demand. The precious metal rallied as much as 1.5% to top $3,945 an ounce in the week’s opening session. The upswing, which follows a run of seven weekly gains, has lifted prices about 50% this year. Gold-backed exchange-traded funds swelled again last week. The US shutdown has delayed key data, making a murky economic outlook more unclear. With a lack of official figures, traders are depending on private reports for signals, while the US central bank is also finding it challenging to assess changing conditions. Traders are still pricing in a quarter-point cut this month, which would benefit gold further as it doesn’t pay interest.

Bullion has pushed higher this year, spurred by central-bank purchases as they diversify away from the US dollar. Economic and geopolitical uncertainties triggered by the Trump administration, as well as Federal Reserve rate cuts, have also provided tailwinds. Investors have flocked to assets like gold, silver and Bitcoin, in what’s been dubbed the “debasement trade,” fueled by concerns about fiat currencies. Private investors piling into gold-backed exchange-traded funds have contributed to the latest leg in the rally, with total holdings expanding the most in more than three years last month. Strong flows continued in the first few days of October. Fund flows have “been nothing short of remarkable,” said Priyanka Sachdeva, an analyst at Phillip Nova Pte. It’s “a testament to how deeply embedded the ‘buy-the-dip-in-gold’ mindset has become,” she said. Gold rose 1.4% to trade at $3,943.89 an ounce at 8:58 a.m. in London. The Bloomberg Dollar Spot Index advanced 0.5%. Silver, platinum and palladium all climbed. The “backdrop is intact with the Fed on path to cut rates further, alongside the weakening labor market,” said Ahmad Assiri, an analyst at Pepperstone Group Ltd. However, “it feels like the risk-reward dynamics are shifting and a tactical pullback would be viewed as a healthy phase within an extended rally,” he said.

Stock traders are making a clear prediction about prediction markets: They’re fast becoming the next big thing for online gambling.

That speculation raced across Wall Street this week after Robinhood Markets Inc. — which played a pivotal role in unleashing the pandemic’s day-trading frenzy — and the exchange Kalshi reported that prediction markets wagers are surging at a rapid pace. Robinhood, which has a partnership with Kalshi to offer wagers on everything from football games to political races and other everyday events, saw more than 2 billion prediction contracts trade in the third quarter alone.

Traders rushed to dump shares of online betting operators, with DraftKings Inc. tumbling over 16%, its biggest weekly drop since late 2022, and rival Flutter Entertainment PLC, which operates FanDuel, sliding more than 8%. Wall Street analysts were equally swift, slashing price targets and in one case double-downgrading DraftKings’ shares to a sell-equivalent rating.

“These companies need to come out with a strategy for investors — whether it’s launching prediction markets or stepping up marketing,” said Jordan Bender, an equity research analyst at Citizens, who said he has been deluged by inquiries from clients. “Until that happens, the prediction markets present a risk.”

(Reuters) -Bitcoin, the world’s largest cryptocurrency by market value, hit a record high on Sunday and was up nearly 2.7% at $125,245.57 at 0512 GMT.

Bitcoin’s previous record was $124,480 in mid-August, buoyed by friendlier regulations from U.S. President Donald Trump’s administration and strong demand from institutional investors.

The cryptocurrency had risen on Friday for an eighth straight session, bolstered by recent gains in U.S. equities and inflows into bitcoin exchange-traded funds.

In contrast, the U.S. dollar retreated on Friday, posting multi-week losses against major currencies, as uncertainty surrounding a U.S. government shutdown clouded the outlook and delayed key data releases, such as payrolls, critical for gauging the economy’s direction.

It’s not just gold (GC=F) notching a strong quarter as a potential government shutdown looms.

Silver futures (SI=F) are up 27% over the past three months, versus gold’s more than 15% rise, and roughly 58% year to date compared with the yellow metal’s 45%.

On Tuesday, gold futures held near record highs above $3,875 an ounce while silver futures traded around $46. The metal was within striking distance of its closing high of $48.70 — just north of $150 in today’s dollars — set in January 1980. That was during a famed silver squeeze, when the infamous Hunt brothers tried to corner the market.

“Silver is in a fundamental deficit with demand outstripping supply,” Sprott Asset Management senior portfolio manager Shree Kargutkar told Yahoo Finance. “This development is being picked up by investors who are adding to their holdings through ETFs (exchange-traded funds) as well as physical silver.”

Sprott remains bullish on the metal, highlighting its industrial demand across sectors, from electronics to medical applications.

Silver’s hockey stick rally comes as gold has dominated the spotlight this year, driven by expectations of Federal Reserve easing and robust foreign central bank demand, with holdings recently surpassing US Treasurys for the first time since 1996.

On Monday, Goldman Sachs analysts pointed to their bullishness on gold amid a “goldilocks regime” — not too hot, not too cold, in other words — for the broader market.

The analysts expect gold to reach $4,000 by mid-2026, though increased trades into the space “might create near-term more bumpiness.

Earlier this month, analysts at the firm said gold was their “highest-conviction long recommendation,” outlining an upside scenario of $5,000 by the end of next year amid rising concerns over Federal Reserve independence, as President Trump aims to place dovish governors at the central bank.

Along with gold and silver, precious metals palladium (PA=F) and platinum (PL=F) have rallied 44% and 79%, respectively, in 2025 amid a weaker greenback trend.

The US dollar index is down about 10% year to date, making commodities priced in dollars cheaper for buyers using other currencies

Barclays head of global asset allocation Nikola Vasiljevic recently noted that precious metals have historically been standout winners during periods of dollar weakness

“Data shows that this asset class has delivered real annualized returns of around 15% on average, and this is because they act as a direct hedge, being a traditional store of value,” Vasiljevic said.

NEW YORK (Reuters) -The U.S. government shutdown tops investors’ agenda next week as markets head into the seasonally strong fourth quarter, with equities near record highs bracing for an earnings-season test later this month.

A deep partisan rift in Washington led to a federal government shutdown that risks delaying crucial economic data and could potentially muddy the Federal Reserve’s policy-easing outlook.

Few on Wall Street expect the Washington impasse to derail a rally that has lifted the S&P 500 by 14% to repeated record highs, but with little in the way of major data or earnings, the Capitol Hill drama is set to dominate investor focus.

“The shutdown and the potential reopening … that’s going to get almost all investor attention,” said Mark Hackett, chief market strategist at Nationwide.

Investors’ main worry is that the shutdown will suspend the flow of timely economic data.

Should the data drought last several weeks, it could cause confusion about the Fed’s monetary policy path, as the central bank will be without government data that helps guide its decisions. It also poses a possible drag on economic growth the longer it extends.

But for now, there is little reason to panic, investors said.

BULLS IN CHARGE

Despite some softness in labor data, the U.S. economy has borne the onslaught of trade and tariff headlines well and corporate earnings have supported stocks’ march higher.

Analysts as of Thursday expected earnings from S&P 500 companies to increase 8.8% in the third quarter from a year ago, up from forecasts of 8.0% growth at the start of July, according to LSEG data.

“In my opinion, lack of data actually puts more burden of proof on bears than it does on bulls,” Hackett said.

Investors will get a taste of the upcoming earnings season, with Levi Strauss and Delta Air Lines set to report results on Thursday.

“The most likely scenario is the market’s just kind of calm … moving sideways during the shutdown,” Hackett said.

KEY Advisors Wealth Management CEO Eddie Ghabour, who sees the shutdown possibly stretching for two to four weeks, echoed the sentiment.

“If we’re right on the shutdown stretching out, if you get extra stimulus in the economy in the form of two more rate cuts, and then the government is back in business, you’re going to see a huge re-acceleration of growth in the economy and the equity markets,” Ghabour said.

Investors will get a read on what Fed policymakers were thinking when they cut rates in September when the minutes of that meeting are released on Wednesday.

SEASONALLY STRONG

For stock bulls, it helps that the just-started fourth quarter is historically the S&P 500’s strongest, with an average gain of about 2.9% and a high share of positive returns, according to LSEG data going back to 1928.

“Despite headline risks and the potential for short-term volatility, the weight of the evidence continues to support a constructive stance,” Keith Lerner, co-chief investment officer at Truist Advisory Services, said in a note on Thursday.

“As always, we will continue to follow the weight of the evidence.”

Meanwhile, the market’s strong momentum has stock bears in hibernation. The S&P 500 logged its 30th record closing high of the year on Thursday.

“The shutdown is going to be the news, but I think the underlying backdrop is really three things, seasonality, which is positive, the tailwind of rate cuts to protect the labor market … and we have momentum in the markets,” said Sonu Varghese, global macro strategist at Carson Group.

“We’ve been overweight equities and we are continuing to be that,” he said.

Ralph Lauren Corporation RL is benefiting from its unique brand portfolio, product innovations and strategic execution of its Next Great Chapter plan. The company is advancing its digital transformation through personalization, data-driven insights and seamless omnichannel experiences. RL leverages advanced data analytics to tailor product recommendations, optimize pricing and refine marketing strategies across regions. Ralph Lauren’s Next Great Chapter initiative serves as the foundation of its growth strategy, emphasizing brand elevation, consumer centricity and operational agility. This strategy is designed to create a more balanced global footprint by expanding into high-growth markets, such as Asia, while strengthening its presence in core regions. In first-quarter fiscal 2026, global direct-to-consumer comparable store sales increased 13%, backed by positive retail comps in all regions and channels. Ralph Lauren is optimizing distribution, strengthening wholesale partnerships and enhancing its retail network to reinforce its premium positioning. The company has been experiencing significant growth in its digital channels across key regions. Continuous investments in personalization, mobile capabilities and loyalty integration have strengthened digital sales, enabling it to make deeper engagements with younger and more diverse consumer segments. Digital sales were up 19% in North America, 11% in Europe and 35% in Asia during the reported quarter. Ralph Lauren’s retail and wholesale operations remain core pillars of its premium lifestyle business, contributing to a balanced and diversified revenue mix. Management is confident that the Next Great Chapter plan will drive sustainable growth, expand market share and reinforce its leadership in the luxury lifestyle space.

Ralph Lauren Peers’ Strategic Efforts

Hanesbrands Inc. HBI, which is a designer and manufacturer of apparel essentials for men, women and children in the US and internationally, is executing a focused transformation involving innovation, portfolio optimization and cost discipline. New category launches, coupled with stronger marketing and technology-driven efficiencies, are helping HBI reinvigorate its core brands and broaden its consumer reach. As Hanesbrands continues to streamline operations and invest in growth platforms, it is well-placed to enhance profitability and build a more resilient foundation. PVH Corp. PVH, which is a branded clothing company, is unlocking growth by revitalizing its core brands, Calvin Klein and Tommy Hilfiger, through bold marketing campaigns, global collaborations and sharper product assortments. PVH’s emphasis on its key product growth, digital-first engagement and international expansion is driving stronger consumer resonance across key markets. Its PVH+ Plan focuses on product excellence, consumer engagement, digital expansion and operational efficiencies, driving sustainable profitability. Strategic cost savings, disciplined financial management and a robust licensing business enhance PVH’s competitiveness. Columbia Sportswear Company COLM, which is a marketer and distributor of outdoor and active lifestyle apparel, footwear and accessories, is benefiting from its ACCELERATE strategy. Efforts such as brand elevation, global expansion and disciplined business management drive growth. COLM is focused on revitalizing its Columbia brand by executing the ACCELERATE growth strategy, which is designed to strengthen brand equity, drive consumer engagement and expand global reach. Columbia is on track with the rollout of its global marketing platform, which will define the brand’s character and voice in the coming years.

Global Infrastructure Partners is in advanced talks to acquire Macquarie-backed Aligned Data Centers, targeting a major beneficiary of the AI spending boom in what would be one of the year’s biggest deals, according to people familiar with the matter.

Aligned could be valued at about $40 billion in a transaction, said one of the people. An agreement could be announced within days, the people added, asking not to be identified because the information is private.

MGX, an AI investment company established by sovereign wealth fund Mubadala Investment Co., is also involved in the talks and would invest independently as part of a transaction, one of the people said. Mubadala has separately already invested in Aligned.

GIP, now part of BlackRock Inc., hasn’t reached a final agreement and some details might change or the talks could still end without a transaction, the people said.

A spokesperson for BlackRock declined to comment. Representatives for Aligned, Macquarie and Mubadala didn’t respond to requests for comment outside of regular business hours.

The envisioned acquisition marks the latest in a parade of eye-popping deals since ChatGPT emerged, as investors vie for exposure to the leaders of a technology with the potential to transform industries and economies. They’ve piled into infrastructure providers such as chip linchpins Nvidia Corp. and SK Hynix Inc., pushed up valuations of startups like OpenAI and Anthropic, and poured capital into all manner of gear suppliers to the AI boom.

The surge in valuations has worried some market observers who argue that, while data center spending and construction is accelerating, AI services have yet to go mainstream and earn the revenues needed to justify the near-unprecedented rally.

“If the technology doesn’t catch up and doesn’t deliver as per the high expectations that the market’s pricing in, then we’re in for a bubble,” GIC Pte group CIO Bryan Yeo told the Milken Institute Asia Summit in Singapore on Friday.

In recent years, digital infrastructure in particular has become a popular target for global investors looking for stable returns and growth. It’s also one of the busiest assets for dealmaking, despite concerns that the new capacity may eventually outstrip demand.

At $40 billion, GIP’s deal for Aligned would rank among the world’s five biggest transactions this year, according to data compiled by Bloomberg.

GIP already owns Dallas-based data center company CyrusOne with KKR & Co. The two firms took CyrusOne private in a 2021 deal valuing the company at about $15 billion.

Aligned, operating throughout the US and South America and based in Plano, Texas, has 50 campuses and 78 data centers under management and future development, according to its website. In January, it landed more than $12 billion in equity and debt commitments from investors including funds managed by Macquarie Asset Management.

Last month, Aligned was one of the companies represented at a meeting with Trump administration officials on speeding the development of AI and the infrastructure it relies on.

The data center construction boom is galvanizing governments around the world. In the US, the White House has proposed streamlining environmental reviews for the construction of new facilities as investment pours into the industry.

Recent deals include Meta Platforms Inc. raising $29 billion in a financing package for a data center in Louisiana. Oracle Corp. raised $18 billion in bonds as it builds infrastructure for OpenAI.

MGX has been looking at raising up to $25 billion for its AI infrastructure effort, Bloomberg News has reported. Mubadala also maintains a strategic partnership with BlackRock, according to the fund’s website.

TOKYO, Oct 2 (Reuters) – Tech shares rallied on Thursday, driving Asia stock indexes higher, while gold hovered near a record high and the dollar languished as a weak U.S. labour market report bolstered bets for Federal Reserve interest rate cuts.

The U.S. government shutdown made it a near certainty that crucial monthly payrolls data won’t be released on Friday, but overnight the private ADP employment report showed the economy unexpectedly shed jobs in September, with the prior month also revised to a decline.

Even without the benefit of official labour data, the dismal ADP report had traders pricing in quarter-point Fed rate cuts at each of the two remaining policy meetings of the year as almost a done deal.

The promise of an easier policy environment helped lift Wall Street to fresh record highs on Wednesday, and the Philadelphia SE semiconductor index (.SOX), opens new tab climbed more than 2%.

Chip sector shares were prominent in leading Japan’s Nikkei (.N225), opens new tab to gains of about 0.5%.

Taiwan’s tech-heavy bourse (.TWII), opens new tab jumped 1.5%, while South Korea’s KOSPI (.KS11), opens new tab shot up 2.8% after chip heavyweights Samsung and Hynix inked partnerships to supply OpenAI data centres.
Hong Kong’s Hang Seng (.HSI), opens new tab added 0.5%.

The ADP report “suggests the U.S. economy is in almost dire need for further policy support,” and as a result, “the markets are discounting a much higher probability of rate cuts in October and December,” said Kyle Rodda, an analyst at Capital.com.

Meanwhile, “after some initial jitters, the markets shrugged off the U.S. government shutdown, at least for now,” he added.

“Historically, the impact of shutdowns has been trivial,” although “the delay of critical economic data could increase uncertainty about the path forward for U.S. monetary policy – and therefore lift volatility,” Rodda said.

The government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long, gruelling standoff.

The combination of Fed easing bets and some shutdown angst pushed gold to a fresh all-time high of $3,895.09 overnight, while also supporting U.S. Treasuries, sending yields sharply lower.

The two-year Treasury yield sank to a two-week low of 3.531% on Thursday in Tokyo trading hours.

Gold paused for breath, last changing hands at around $3,865.

The U.S. dollar index , which tracks the currency against six major peers, languished near the one-week low of 97.459 reached overnight. It last stood at 97.672, slightly down from Wednesday’s closing level.

The dollar was little changed at 147.01 yen , following a 1.8% three-day tumble.

The euro rose slightly to $1.1738, and sterling also ticked up to $1.34835.

Oil prices edged higher on prospects of tighter sanctions on Russian crude, looking to snap a three-day losing streak to 16-week lows.

Brent crude futures gained 0.2% to $65.50 a barrel, and U.S. West Texas Intermediate crude rose 0.2% to $61.92 a barrel.

Stocks closed slightly higher on Wednesday as the US government officially entered a shutdown and Wall Street grappled with the uncertain implications for the economy. The Dow rose 43 points, or 0.09%. The broader S&P 500 rose 0.34% and the tech-heavy Nasdaq Composite rose 0.42%. The S&P 500 and Dow both closed at record highs. The government at midnight officially shut down for the first time in seven years after lawmakers failed to agree on a funding bill. Stocks had opened lower Wednesday morning before turning higher during the day as investors tried to look past concerns. The gridlock on Capitol Hill is set to put many federal employees out of work indefinitely, in addition to stoking uncertainty about the fate of regularly scheduled releases of key economic data. “While the government shutdown introduces a new layer of uncertainty for markets, they have historically been short-lived and, as a result, have had minimal impact on the economy,” Adam Turnquist, chief technical strategist at LPL Financial, said in a note. History shows that the stock market tends to be largely unfazed by government shutdowns. Since 1976, there have been 20 government shutdowns, with an average length of eight days each. In the one- and three-month periods after each of the shutdowns ended, the S&P 500 gained an average of 1.2% and 2.9%, respectively, according to Turnquist. “Investors have generally looked past budget-related disruptions, prioritizing corporate earnings, broader economic trends and other key macroeconomic factors,” Turnquist said. While the market tends to shrug off the political standstill, specific sectors that rely on government contracts — such as defense and healthcare — can be more sensitive to shutdowns, he added. Stocks are coming off a historically strong September. The S&P 500 rose 3.5% across the month, posting its strongest gains in September since 2010. “Historically, shutdowns have been more of a temporary event rather than a longer term disruption,” said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management. “The longer this goes on, the more the risks evolve and grow.” Bonds also rallied on Wednesday after the latest data from payrolls firm ADP showed the private sector lost 32,000 jobs in September. Two-year, 10-year and 30-year Treasury yields all fell as investors snapped up bonds.

Investors are mixed

Some investors said there are unique risks associated with this shutdown because of heightened attention to economic data, along with concerns that investors and companies could be left in the dark without reliable information about the economy if the shutdown lasts for an extended period of time. “We believe that a shutdown will have only a small and transitory economic impact, but it may spur some financial market volatility, especially if delays in government economic reports obscure the path of Federal Reserve interest-rate cuts,” Jennifer Timmerman, investment strategy analyst at Wells Fargo Investment Institute, said in a note. The market is being relatively sanguine and overlooking risks associated with the shutdown, according to Keith Buchanan, senior portfolio manager at Globalt Investments. “We don’t think that the market appreciates the risk of a stickier, more contentious shutdown,” Buchanan said. “We don’t feel like the market is appropriately pricing the risk of this getting worse than it has in the past.” The S&P 500 is coming off of five months of gains in a row. US stocks have climbed higher despite concerns about geopolitical uncertainty, renewed tariff threats and faltering consumer sentiment. Eric Teal, chief investment officer at Comerica Wealth Management, said he does not the think shutdown will prove to be an issue for stocks. “I think it’s more of a political event than a market event,” Teal said. Corporate earnings continue to beat expectations, providing enough fuel for the market rally to continue at least until investors parse through third quarter earnings results in the coming months, Teal said. Indeed, corporate America’s profits have yet to display signs of slowing down, defying expectations and providing fuel for stocks to move higher. Stocks have also rallied on optimism about the Fed cutting interest rates. Fed rate cuts can lead to lower savings rates and borrowing costs, encouraging consumer spending, investing and business activity, providing a sustained tailwind for stocks. “We advise investors to look past shutdown fears and focus on other market drivers, such as the mix of continued Fed rate cuts, strong corporate earnings and robust AI capex and monetization,” Ulrike Hoffmann-Burchardi, global head of equities at UBS Global Wealth Management, said in a note.

Safe havens surge

While stocks are hovering near record highs, a surge in gold and silver prices is signaling lingering concern about political and economic uncertainty. Precious metals like gold and silver can serve as stores of value amid times of turmoil. Gold in particular is considered a hedge against inflation and instability. Gold futures traded in New York rose as much as 0.7% on Wednesday to hit a record high $3,900 a troy ounce before paring some gains. Gold prices are up 47% this year. Silver, a cheaper alternative safe haven, rose 1.85% to $47.50 a troy ounce. Sliver prices are up almost 63% this year. “[The] government shutdown has investors gravitating toward safe-haven assets,” José Torres, senior economist at Interactive Brokers, said in a Tuesday note.