COMMODITIES UPDATE: Gold Up 2.6% On Safe Haven Buying As Things Settle After Govt Shutdown, Debt Ceiling Scare
Gold futures contracts continue to rise this morning, even after the U.S. Congress averted a potential technical default by agreeing on a last-minute deal to increase the debt ceiling and end the government shutdown. Safe-haven investors show continued interest in precious metals.
Gold for December delivery was up $32.40, or 2.6%, to $1,314.70 an ounce on the New York Mercantile Exchange after trading as high as $1,323.00 early today.
Copper was little changed on the day.