(Reuters) -HSBC said gold could trade above $4,000 per ounce in the near term, driven by geopolitical risks, fiscal uncertainties, and threats to the Federal Reserve’s independence.

“Rallies can continue into 2026 aided by official sector buying; institutional demand for gold as a diversifier can stay robust,” the bank said in a note dated Friday.

Spot gold scaled a record high of $3,896.49 on Thursday amid elevated uncertainty from a U.S. government shutdown and rising expectations of interest rate cuts. [GOL/]

The U.S. Senate will vote again on Friday on dueling Democratic and Republican plans to end a government shutdown now entering its third day, though there is no sign that either plan will win passage. The shutdown, the 15th since 1981, has suspended scientific research, economic

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