Gold Holds Steady on Thursday

Reuters reported that gold held steady on Thursday, as investors seemed split on the safety of gold versus the haven of the dollar, with the prospect of a “fiscal cliff” existing with Obama’s re-election.

As quoted in the market report:

In the longer term, gold is likely to benefit from uncertainty over the looming “fiscal cliff” when nearly $600 billion worth of spending cuts and tax increases kick in with the risk of pushing the U.S. economy into deep recession.

To view the whole Reuters report, click here.