Gold, Silver Volatile, Miners Surge as Debt Deal Nears - Several miners up more than 3% early Monday

GOLD SILVER ETFs NEWS ~ Gold, Silver Volatile, Miners Surge as Debt Deal Nears - Several miners up more than 3% early Monday

Gold sold off sharply in Asia-Pacific trading late Sunday, falling from the $1,633.30 mark reached Friday, to a low of around $1,609 per ounce as news broke that President Barack Obama and leaders from both parties had reached an agreement to raise the nation’s debt ceiling and were scrambling to set up votes Monday.

Gold then reversed course and surged from around $1,613 to just shy of $1,625 in late London, early N.Y. trading as the U.S. ISM Manufacturing Index fell to 50.9 in July, and reports of weaker manufacturing came in from China and the United Kingdom.

Gold was set at $1,623 per ounce at the London PM fix and was trading at $1,625 Bid, 1,626 Ask in early morning trading Monday. Silver was set at $39.31 in London and was trading at $39.65 Bid, $39.75 Ask.

Gold and silver trusts were trading flat to slightly lower in New York on Monday. Read More