Gold Sets New Absolute Record as US Can’t Raise Debt Ceiling
Gold set its new record maximum level today (for the eighth time total this month), as the US Congress seems to be unable to raise the debt ceiling before the critical date of August 2.
The seemingly unavoidable state of technical default is benefiting the precious metal prices, resulting in a fourth bullish day this week. If the limit of $14.3 trillion isn’t lifted during the next 4 days (including the weekend), the gold might surge to extremely high levels.
Following bearish June, the current month is ending quite positively for gold. The commodity is currently demonstrating its
The brokers operating in gold market say that the demand from the regular investors is still very high. Common people buy gold as an alternative to faltering
Spot gold rose from $1,615.64 to $1,627.05 or 0.7 percent as of 17:31 GMT today. The metal increased by 8.5 percent this month.
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