Gold Futures Fall on Investor Sales After Metal Rises to Record
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Gold futures fell on investor sales after the precious metal rose to a record $1,631.20 an ounce.
The 14-day relative-strength index for gold topped 70 in the previous two days, a signal that prices may fall. Gold reached the record as the cost of insuring U.S. debt rose to a 17-month high. Congressional leaders offered competing budget plans to avoid a $14.3 trillion default.