Gold modestly gains on U.S. budget uncertainty
Posted: Thu Dec 27, 2012 1:32 pmGold 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.
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.