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Gold Higher in Wake of U.S. Fiscal Cliff Agreement - report

Comex gold futures prices are posting good gains and hit a fresh two-week high early Wednesday in the wake of an overnight agreement by U.S. lawmakers that avoided the dreaded fiscal cliff, according to Kitco News.

Kitco said it's a 'risk-on' trading day in the markets Wednesday as the world market place breathes a sigh of relief that U.S. lawmakers came to a 12th-hour agreement on the fiscal cliff. The key outside markets are also in a bullish posture for the precious metals markets Wednesday morning, as the U.S. dollar index is lower and crude oil prices are higher.

February gold traded up US$12.20 an ounce at $1,688.00. Spot gold was quoted up $12.40 at $1,688.00. March Comex silver traded up $0.978 at $31.21 an ounce.

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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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