Talks in Washington over raising the debt ceiling and ending the government shutdown appear to be breaking down, and markets are reacting a bit.
According to CNBC, some Republican congressmen may want to make House Speaker John Boehner’s proposal to resolve the issues tougher, which Democrats most certainly will not like.
Gold has had a crazy day already, and after a spike on this news, it’s now positive. Right now, it’s trading at $US1281 an ounce, up 0.3%.
Earlier, the yellow metal traded as low as $US1251 on hopes that Congressional leaders were getting closer to a deal.
The whole trading day has been characterised by a series of sharp ups and downs.