Gold prices follow each twist in debt-limit talks

Gold prices got whipsawed Wednesday as investors tried to determine whether a deal to reduce debt can occur. Gold has been whipsawed gold prices Wednesday, as traders try to make sense of this impasse in Washington on raising the country's borrowing limit.Gold for August delivery as high as $ 1,627.90 an ounce in the morning - if not, can the price of gold soar.NEW YORK trading. Later in the day, and gold prices fell $ 1.70 to settle U.S. $ 1,615.10 an ounce.


If Congress can not reach an agreement to raise the debt ceiling before the end of this month 2, the United States could default on its debt. That would be sure of the turbid financial markets and rising gold prices as investors sent on a quest to relatively safe places their money.

Said George Gero, Vice President of RBC Global Futures in New York in the gold trade is very volatile because investors are buying or selling each title on the basis of the discussion about religion.