Gold Near Lowest Since August as U.S. Impasse Counters Holdings
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Gold traded near the lowest level since August as an impasse in U.S. budget talks helped to boost the dollar, countering investor holdings in exchange-traded products at an all-time high.
Spot gold was little changed at $1,667.95 an ounce at 2 p.m. in Singapore after dropping 0.2 percent yesterday and falling to $1,661.10 on Dec. 18, the lowest since Aug. 31, on signs of progress in the U.S. negotiations. Gold for February delivery was at $1,668.40 an ounce from $1,667.70 on the Comex.