Gold Is Taking Off

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.

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