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Gold makes slight gains

Dec. 26, 2012 at 6:27 PM

NEW YORK, Dec. 26 (UPI) -- Gold and silver shifted slightly higher in New York Wednesday with investors focused on budget talks put on hold in Washington.

President Barack Obama is expected back in Washington Thursday from a vacation in an effort to avert a default budget the Congressional Budget Office predicted would drag the U.S. economy back into a recession.

The weaker dollar provided some pressure with the dollar index up 0.15 percent to 79.65 on the International Exchange.

On the New York Mercantile Exchange, gold for February delivery added 80 cents or 0.05 percent to $1,660.30 per troy ounce.

Silver for March delivery added 21 cents or 0.71 percent to $30.11 an ounce.

The euro was trading at $1.3226 from Tuesday's 1.3183. The dollar rose to 85.52 yen from Tuesday's 84.81 yen.

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