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.
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.
