Gold was trading in a relatively narrow range, between about $1,610 and $1,616 per ounce, in early morning trading Tuesday as back-and-forth negotiations to raise the U.S. debt ceiling between Republicans, Democrats and President Barack Obama continued.
The U.S. dollar hit a record low against the Swiss franc and a three-year low vs. the Canadian dollar, while U.S. 10-year Treasury yields hit a two-week high. U.S. home sales fell for a second consecutive month in June, falling to a one-month low, according to news reports.
Spot gold was set at $1,612.75 per ounce at the London p.m. fix and was trading at $1,610.50 Bid, $1,611.50 Ask early Tuesday. Fixed in London at $40.34 per ounce, spot silver was trading at $40.30 Bid, $40.40 Ask, according to Kitco market data. Read More
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