Gold Falls on U.S. Budget-Deal Hangover: Report

By Midnight Trader,  January 03, 2013, 12:13:28 PM EDT

Gold fell in New York for the first time this week, as a stronger dollar curbed demand for bullion as an alternative investment, Bloomberg reported.

The U.S. Dollar Index rose to the highest since Dec. 11 against a basket of six currencies amid concern that U.S. lawmakers will struggle to reach an agreement to raise the nation's debt limit. Gold touched a two-week high yesterday after the policy makers passed a bill averting automatic spending cuts and tax increases.

Gold futures for February delivery slid 0.5% to $1,681.10 an ounce on the Comex in New York.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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