Gold Falls as U.S. Budget Accord Reduces Demand for Haven
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Gold futures fell as congressional negotiators reached a U.S. budget agreement, curbing the appeal of the metal as a haven.
Chief architects Senator Patty Murray and Representative Paul Ryan said a government shutdown will be avoided when funding authority expires Jan. 15, and the accord aids the economy. Yesterday, gold rose to the highest since Nov. 20 after the dollar’s drop boosted demand for the commodity as an alternative asset.