Gold Approaches $4k as Investors Weigh Shutdown

Gold edged closer to $4,000 an ounce, extending a rally fueled by the US government shutdown and the political crisis in France.Traders are still pricing in a quarter-point cut this month, which should benefit gold as it doesn’t pay interest. However, Citadel’s Ken Griffin said investors are starting to view gold as a safer asset than the dollar, a development that’s “really concerning” to him. Griffin stated the US is seeing fiscal and monetary stimulus akin to what normally happens during a recession, which is stoking markets. Scharles Schwab Senior Investment Strategist Kevin Gordon joined Carol Massar and Tim Stenovec on ‘Bloomberg Businessweek Daily’ to break it down. (Source: Bloomberg)