GOLD jumped $100 per ounce and silver leapt to test October's record Dollar price above $54 on Thursday after President Trump signed a funding deal to end the US government's record-long shutdown and the Dollar sank on fresh White House calls for the Federal Reserve to ignore inflation data and loosen monetary policy.

While silver priced in Dollars then pulled back by almost $1.75 per ounce after failing to top last month's high, the industrially-useful precious metal set fresh all-time records in terms of Euros, Chinese Yuan, Japanese Yen, UK Pounds Sterling and Swiss Francs.

Market-based odds for a US December rate cut meantime fell hard as the Democrat-Republican deal in Washington brought the shutdown to an end, plunging from 2-in-3 yesterday morning − itself sharply down from a near-100% certainty this time last month − to barely an even shot today according to the CME derivatives exchange's FedWatch tool.

"The way that we measure inflation lags behind where the market is by a significant amount of time," said Trump's economic advisor and Fed appointee Stephen Miran yesterday, calling for the US central bank to grow its balancesheet and make a half-point cut to rates at its end-2025 meeting.

"Trump is gonna run the US hot at the expense of deficits and the United States' fiscal state," says bullion market strategist Nicky Shiels at Swiss refining and finance group MKS Pamp, "because they must pivot more populist following recent election results" such as avowed 'socialist' Zohran Mamdani winning New York mayor.

"That spells Christmas bounces across real assets and debasement trades from copper to gold and stocks."

Already 4.6% higher for the week so far, gold today jumped another 2.4% to trade back above $4200 per Troy ounce, a level breached on just 5 trading days at mid-October's all-time record gold price highs.

Silver prices meanwhile leapt by 5.5% in Dollar terms from 24 hours earlier to hit $54.39 per ounce, less than 10 cents below the more industrially-useful precious metal's record all-time high of 4 weeks ago.

With the price of silver then dropping back, fellow industrial precious metals platinum and palladium also fell from 3-week highs.

"It would be unsurprising if the price of gold chops around in the coming months before taking the next leg higher," said analysts at US financial giant Wells Fargo earlier this week.

"Has there been any change in the bull market story? No. Gold remains the outlet for investor concerns over government debt, geopolitical risks, economic uncertainty, inflation, among other factors, while central bank and investor demand should remain robust."

"Silver has a robust fundamental outlook," says analyst Rhona O'Connell at brokerage StoneX.

"The solar market remains oversupplied, but still has a constructive future, while AI and vehicle electrification will also help to keep the market in a pre-investment deficit."

With Washington's 10-year borrowing costs reversing yesterday's drop to new November lows in the bond market today, the Dollar sank again on the FX market, pulling its trade-weighted DXY index down to the lowest in almost 2 weeks.

The UK gold price in Pounds per ounce meantime came within 0.5% of mid-October's all-time London auction highs, fixing around £3213 this morning as Sterling fell hard on the FX market following bad UK GDP data.

Economic growth slowed to just 0.1% across July-to-September, with industrial production cratering by 2.5% per year.

Euro gold prices also approached 4-week highs, trading above €3650 per Troy ounce before also dropping back as a drop in European stock markets was followed by a weak opening for New York equities.

So-called cryptocurrency Bitcoin meantime edged higher, cutting its 1-month drop towards 10% and trimming its plunge from early October's new all-time high above $123,000 to around 17%.

"Regional Fed banks could be next front in Trump's pressure campaign" for lower interest rates, Reuters reports today, after Atlanta Fed 'neutral' Raphael Bostic announced his retirement on Wednesday.