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Gold modestly gains on U.S. budget uncertainty

Daily newsbrief journal for December 2012, also see http://www.usdemocrats.com/brief for a global compendium library and follow twitter @usdemocrats


Gold modestly gains on U.S. budget uncertainty

Postby admin » Thu Dec 27, 2012 1:32 pm

Gold modestly gains on U.S. budget uncertainty
from MarketWatch.com - MarketPulse
LOS ANGELES (MarketWatch) -- Gold futures settled higher Thursday, on increased uncertainty that leaders in Washington will reach a budget deal before next year. Gold for February delivery rose $3, or 0.2%, to $1,663.70 an ounce on the New York Mercantile Exchange. But strengthening in the U.S. dollar during the session limited the precious metal's gains. Economists project the U.S. economy will slip into recession if it's hit by billions of dollars in tax increases and spending cuts unless Congress reaches a deal. Gold prices are on pace for an annual rise of about 6%, the smallest annual gain since 2008.
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