BLBG:Gold Gains to Record as Failure to Raise Debt Limit Spurs Default Concern
Gold for August delivery surged as much as 0.9 percent, extending its rally to a record $1,616.50 an ounce in New York. The metal traded at $1,615 an ounce at 8:19 a.m. in Melbourne.
Republicans challenged a presidential veto threat by preparing for a short-term extension of the U.S. debt limit, hardening partisan differences in the face of warnings that a stalemate risks roiling financial markets.
To contact the reporter on this story: Phoebe Sedgman in Melbourne at psedgman2@bloomberg.net
To contact the editor responsible for this story: Soraya Permatasari at soraya@bloomberg.net
