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Gold Prices Hit as Budget Showdown Persists: Report

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.

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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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