Precious Metals

Gold prices increased slightly Oct. 16 as U.S. lawmakers announced they had reached a deal to avoid default.

Gold prices increased slightly Oct. 16 as U.S. lawmakers announced they had reached a deal to avoid default. The government has until tomorrow to increase the debt ceiling.

Gold futures for December delivery were up $5.30 to $1,278.50 an ounce on the Comex in New York, The Wall Street Journal reported. Before the deal spot gold prices lost $7.63, getting dragged down $1,272.401 an ounce; however at time of writing spot gold was up to $1,281.20.

Investors are closely watching lawmakers’ moves in Washington.

“The market continues to trade on an expectation of a settlement,” said Peter Hug, global trading director with Kitco Metals Inc., in a note to clients.

 

MARKETS

Markets
TSX19456.71+202.15
TSXV635.41+15.65
DOW32529.63+332.04
S&P 5004072.43+48.82
NASD12162.59+130.17
ASX6889.70+66.50

COMMODITIES

Commodities
Gold1761.54+6.80
Silver20.10+0.15
Copper3.470.00
Palladium2100.00+24.00
Platinum894.00+4.99
Oil96.68+0.26
Heating Oil3.610.00
Natural Gas8.14+0.01

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