Gold Moves into Range of Two-Week High

Bloomberg reported that gold was trading in the range of a two-week high, as investors were subdued with concerns over global economic growth and the likelihood of further economic stimulus.

As quoted in the market report:

Spot gold was at $1,680.05 an ounce at 10:29 a.m. in Singapore from $1,679.95 yesterday. The metal reached $1,685.25 on Jan. 15, the most expensive since Jan. 3, as U.S. lawmakers wrangled over increasing the $16.4 trillion debt ceiling. Since 1960, Congress has raised or revised the debt limit 79 times, including 49 times under Republican presidents, according to the Treasury Department.

To view the whole Bloomberg report, click here.