Gold futures prices today down november 22 2011

Gold futures prices today down november 22 2011 : Gold prices edged lower on Tuesday, extending a decline of more than 2 percent from the previous session, as worries about a debt crisis in both the United States and euro zone spurred selling across markets.

FUNDAMENTALS
* Spot gold edged down 0.2 percent to $1,674.79 an ounce by 0009 GMT, off the four-week low of $1,665.88 hit on Monday.

* U.S. gold also inched down 0.2 percent to $1,675.80.
* U.S. lawmakers abandoned their high-profile effort to rein in the country's ballooning debt on Monday in a sign that Washington likely will not be able to resolve a dispute over taxes and spending until 2013.

* On the other side of the Atlantic, the debt crisis swept closer to the heart of Europe as Moody's warned about France's credit ratings outlook, despite a crushing victory of Spain's conservatives in the election over the weekend.

* Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell for the first time in a week, down 1.81 tonnes to 1,291.27 tonnes by Nov. 21.

MARKET NEWS
* U.S. stocks fell for a fourth session on Monday, as the lack of progress in dealing with heavy debt both in the United States and Europe further sapped investor confidence in equities.

* The safe-haven U.S. dollar stayed well bid in Asia on Tuesday following a sharp pullback in global risk appetite as the sovereign debt storm intensified on both sides of the Atlantic. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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