As we mentioned before, demand for gold will remain strong even after the US debt ceiling deal is done. After a brief pullback on Monday, the benchmark Comex gold contract resumed its rally yesterday, surging to a new record high of 1664.5 before settling at 1644.5, up +1.41%. The compromised agreement on raising the debt limit and reducing government expenses is passed in both the House and the Senate but market confidence has not improved.
Read the original:
Gold Seen New High amid Disappointing Data, Debt Concerns in Italy
Leave a Reply
You must be logged in to post a comment.