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Gold rises on 'fiscal cliff' impasse

Dec. 21, 2012 at 7:07 PM

NEW YORK, Dec. 21 (UPI) -- Gold futures gained Friday on the Comex division of the New York Mercantile Exchange as U.S. budget talks reached an impasse.

Gold for February delivery jumped $14.20 or .86 percent to $1,660.10 an ounce.

Silver for March delivery gained 53 cents or 1.77 percent to $30.20 an ounce.

The euro was trading at $1.3189 from Thursday's 1.3243. The dollar fell to 84.24 against the Japanese yen from Thursday's 84.39 yen.

The Australian dollar was trading at $1.0413 from Thursday's $1.0482. The British pound fell to $1.6166 from Thursday's $1.6281.

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