The precious metal also is likely to serve as a wealth protector for U.S. investors concerned about debt in America. The news service conducted a poll that indicated 14 of 18 traders, investors and analysts forecast the precious metal to gain in value next week. Bullion this week was within 2.7 percent of its record high price of $1,577.40 per troy ounce.
"Debt contagion seems to be back on the agenda, prompting diversification back into safe-havens," London-based analyst James Moore of TheBullionDesk.com told the news service. "Data has shown a big reduction in fund longs in recent weeks and suggests scope for gains as players rebuild their exposure."
At 5:50 a.m. on Friday, goild futures dipped 0.31 percent, a $4.70 drop to $1,525.90 per troy ounce.
The Associated Press reports President Obama met Thursday with leaders of congress to discuss the crisis regarding the debt limit of the government and how it can be raised. The meeting involved legislators from both sides of the aisle.
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