Gold Prices Hit as Budget Showdown Persists: Report

By MT Newswires,  December 20, 2012, 02:35:38 PM EDT

Gold futures fell Thursday, and silver prices dropped for a sixth straight session, as U.S. budget talks stalled and the Commerce Department raised its estimate of third-quarter growth for the largest global economy, MarketWatch reported.

Gold for February delivery fell $21.80, or 1.3%, to $1,645.90 an ounce on the Comex division of the New York Mercantile Exchange. February gold traded as low as $1,636.

Gold came off session lows as U.S. House Speaker John Boehner urged the Senate to support a bill that would extend tax cuts for most Americans.

March silver fell $1.44, or 4.6%, to $29.68 an ounce. Silver hasn't settled below $30 an ounce since late August.




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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