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Monday, November 19, 2012

Gold, Silver Prices rose watch U.S budget deal

Stock market news today : Gold, Silver Prices rose watch U.S budget deal : Gold prices were rising Monday as confidence increased that Congress would reach a U.S. budget deal to avoid deep spending cuts and tax relief measures that could automatically go into effect at the beginning of 2013.

Gold for December delivery was rising $18 to $1,732.70 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,732.70 and as low as $1,713.40 an ounce, while the spot price was jumping $20, according to Kitco's gold index.

Silver prices for December delivery were gaining 66 cents to $33.03 an ounce, while the U.S. dollar index was shedding 0.48% to $80.80.

Preliminary feedback on the so-called fiscal cliff talks suggested negotiations were "constructive" and on a promising path to reach a deal.

In other words, the headlines suggest early negotiations struck a positive tone, but politicians have outlined few, if any, particulars to the deal. Gold investors may be wise to keep a close watch on budget discussions

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