Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Gold Prices Pare Losses, Hold Steady With U.S. Politics in Focus

Published 01/22/2018, 08:39 AM
Updated 01/22/2018, 08:39 AM
© Reuters.  Gold prices little changed as traders focus on U.S. developments

Investing.com - Gold prices pared losses and held steady on Monday, as traders continued to evaluate the consequences of the U.S. government shutdown on Friday.

Comex gold futures were little changed at $1,332.90 a troy ounce by 08:35 a.m. ET (12:35 GMT).

The U.S. government shutdown entered a third day after the Senate failed to reach a deal Sunday night to fund government operations.

But the Senate plans to vote at 12:00 p.m. ET Monday (17:00 GMT) on a temporary spending measure that will keep the government open through February 8.

Lawmakers have been trying to reach a deal on immigration, which is viewed as crucial to breaking the deadlock.

This is the first U.S. government shutdown since 2013. That year, the government was shut down for 16 days.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.22% at 90.29, not far from Friday's three-year low of 89.96.

Gold is sensitive to moves in the dollar. A weaker dollar makes gold less expensive for holders of foreign currency.

Elsewhere on the Comex, silver futures added 0.14% to $17.06 a troy ounce.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.