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

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.

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

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