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Budget Deal Boosts Gold

Budget Deal Boosts Gold (CNBC)

Gold is on the rise today, up more than three percent as of this writing, as investors anticipate that yesterday’s budget deal will delay stimulus tapering from the Federal Reserve. “The U.S. debt deal is seen (as) positive for gold by market participants, for good reason, since the whole mess is just being postponed by 3-4 months, which makes a reduction of Fed asset purchases rather unlikely for the time being,” Commerzbank analyst Carsten Fritsch said.

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