Gold climbed as the first U.S. government shutdown in 17 years began, increasing demand for a protection of wealth on concern that the impasse may endanger the recovery in the largest economy. Silver increased.
U.S. lawmakers failed to forge an agreement in budget talks for the new fiscal year that started at midnight, triggering the shutdown that risks curbing growth. Parts of the economy that depend on the government “would be hamstrung,” President Barack Obama said before the deadline. No further negotiations between the two main parties are scheduled.
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