Gold Gains as Impasse in U.S. Budget Talks Signals Haven Demand
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Gold gained for the first time in four days as an impasse in U.S. budget talks boosted demand for the metal as an investment haven.
Lawmakers canceled a planned vote on higher taxes for top earners, giving them less than a week to reach agreement to avert tax increases and spending cuts set to take effect next month. The Congressional Budget Office has said that a failure to avert those changes would probably lead to a recession in the first half of 2013.