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08.10.2013 15:21

Gold: an overview of the market situation

Gold prices rose slightly today , due to concerns about the budget issues . Note that U.S. lawmakers have begun to take the first tentative steps in the direction of increasing the debt limit the government, despite the fact that the talks between President Barack Obama and Republican leaders have led to more controversy.

U.S. President Barack Obama urged the Republican Party to agree to increase the flow of debt of $ 16.7 billion by the end of this week. After that , he said , will be easy to discuss the budget.

Democrats in the Senate plan to hold talks on the possibility of a vote before the end of this week on an issue that will give Obama the right to raise the debt ceiling unless two thirds of both houses of Congress approve it. This plan Gene Sperling , director of Obama's National Economic Council , allows , at least temporarily resolve the situation . If all the Democrats in the Senate and six Republicans will vote for Obama , then let it raise the debt ceiling without any political conditions on the part of the Republican-controlled House of Representatives. This will put pressure on the Speaker of the House John Boehner , who opposes it .

Meanwhile, it is worth noting that the partial " shutdown " of the U.S. government was distracted investors from their main concern of previous weeks , namely the reduction of terms of stimulus from the Federal Reserve .

In addition, we add that , in spite of the fact that the Chinese market opened after a week's national holiday , dealers in Hong Kong said they have seen only a small interest in buying .

The cost of the December gold futures on COMEX today rose to $ 1327.60 per ounce.

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