Gold Advances Most in a Week on U.S. Government Shutdown Concern
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Gold advanced the most in a week as U.S. lawmakers struggled to reach an accord on raising the nation’s debt limit, increasing demand for the precious metal as a haven.
President Barack Obama summoned the four congressional leaders to the White House for talks to end a partial government shutdown and prevent U.S. borrowing authority from lapsing in three days. Senate Majority Leader Harry Reid said he and Minority Leader Mitch McConnell are closer to an agreement. Bullion dropped to a three-month low last week on speculation that lawmakers would reach an agreement to raise the debt ceiling and end the shutdown.