Gold Prices Reflect Nervousness Over Government Shutdown

(Kitco News) - The markets continue to reflect nervousness about thepossibility of a government shutdown at midnight tonight. The rhetoricratcheted higher overnight as Democrats continue to demand a deal on DACA aspart of the funding extension. Dollar selling accelerated and gold pushedhigher before the Asian close. Volatility will increase throughout the day andtraders are likely to go into the weekend long as a “just in case” trade. It isdifficult to put a true value on the overnight move when it is predicated on ahedge bet. A funding agreement could reverse the move quickly but there is alsoconsiderable upside should the Federal government shut down. Place your bets.

By Peter Hug

Contributing tokitco.com

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