Gold climbed to a record peak close to $4,000, while leading cryptocurrency bitcoin rallied to a lifetime high on Sunday, with investors increasingly turning to alternative assets as a store of value as the U.S. government shutdown frayed nerves.
The federal shutdown entered its fifth day Sunday with no apparent end in sight. President Donald Trump said Sunday night that some federal workers have already been fired, following through on his threats. On Monday, the Senate is scheduled to again vote on a stopgap spending measure, which is not expected to gain enough Democratic votes to pass.
Crypto stocks jumped in morning trading on Monday. Bitfarms rose 14%; BitMine rose 8%; Riot Platforms rose 7%; Bit Digital rose 6%; MARA Holdings and Bullish rose 5%; Strategy rose 4%; Circle and Coinbase rose 2%.
Gold stock also jumped in morning trading. Hecla Mining rose 4%; Harmony Gold and Anglogold Ashanti rose 3%; Newmont Mining, Coeur Mining, and Eldorado rose 2%.