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Gold adds 0.2 percent Thursday

Dec. 27, 2012 at 6:33 PM   |   Comments

NEW YORK, Dec. 27 (UPI) -- Gold and silver prices rose in New York Thursday with lawmakers returning to Washington to attempt to hammer out a budget agreement.

The budget impasse has stalled movement in metal prices, as traders are cautious about changing bets in the face of so much uncertainty. Investors, however, withdrew from equity positions Thursday seeking a safer bet, driving up gold and silver.

The dollar index moved marginally Thursday, climbing 0.05 percent on the International Exchange.

On the New York Mercantile Exchange, gold for February delivery added $3.20 cents or 0.19 percent to $1,663.90 per troy ounce.

Silver for March delivery added 15 cents or 0.48 percent to $30.17 an ounce.

The euro was trading at $1.3236 from Wednesday's 1.3237. The dollar rose to 86.34 yen from Wednesday's 86.11 yen.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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