09:30 AM EST, 11/13/2025 (MT Newswires) -- Gold traded higher for a second session early on Thursday as momentum buying for the metal returns following the reopening of the U.S. government and the dollar weakened.

Gold for December delivery was last seen up US$19.00 to US$4.232.60 per ounce, the highest since the Oct. 20 record of US$4,359.40 per ounce.

The rise comes as U.S. legislators agreed to a deal to reopen the government after a 43-day shutdown. The deal comes as the U.S. economy slows, while spending accelerates. "The reopening of the US government refocuses traders on a weakening economic outlook and spending pledges that will further expand the fiscal deficit. That combination continues to drive demand for hard assets as a hedge," Saxo Bank noted.

The dollar weakened early, with the ICE dollar index last seen down 0.22 points to 99.28. Treasury yields rose, with the yield on the U.S. two-year note last seen up 3.2 basis points to 3.608%, while the 10-year note was paying 4.114%, up 3.5 points.