Markets Brace for U.S. Government Shutdown Amid Economic Jitters

Asian markets experienced slight gains on Tuesday, buoyed by the relentless rise in gold prices amid growing concerns over a potential U.S. government shutdown. The Australian dollar also advanced following the central bank's decision to maintain stable policy rates, as expected by market analysts.

U.S. Vice President JD Vance signaled that a government shutdown was imminent, as budget negotiations between President Donald Trump and Democrats failed to make significant progress. Such a shutdown could postpone crucial employment figures, shifting attention to the forthcoming JOLTS report on job openings.

The economic uncertainty has put gold in a favorable position, with its value soaring to an all-time high. Meanwhile, oil prices dipped due to forecasts of increased production by OPEC+ and the resumption of exports from Iraq's Kurdistan. Analysts remain focused on the trajectory of U.S. interest rates amid potential delays in critical economic data releases.

(With inputs from agencies.)