RTTN:Gold Steady Near Record Peak Amid U.S. Debt Deadlock
(RTTNews) - The price of gold was firm above $1,620 Wednesday morning amid lingering concerns over about a possible downgrade of U.S. government debt next month.
Gold for August delivery, the most actively traded contract, gained $3.40 to $1,620.20 an ounce. Yesterday, gold ended just below its record peak as the U.S. dollar was trading weak amid U.S. debt stalemate.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,241.77 tons.
Meanwhile, the U.S. dollar was paring recent losses versus the euro and recovering from a 2-month low against sterling. The buck was struggling around its record low against the Swiss franc and trading weak versus the yen.
Elsewhere, the prices of silver and platinum ticked higher in morning deals.
In economic news, the U.S. Commerce Department will come out with its report on durable goods order for June. Economists expect the orders to edge down in June, after adding 2.1 percent in May.
