The precious metal logged all-time highs of $1,637.50 per troy ounce on Friday amid global concern for the world's biggest economy that has had an intact rating since the close of World War One. The rapidly-approaching deadline day is Tuesday.
Senior market strategist Adam Klopfenstein of Lind-Wadlock told the Wall Street Journal that not buying bullion as the weekend approaches is "very irrational."
At 4:32 p.m. on Friday, gold futures rose 0.75 percent, a $12.20 lift to $1,628.40 per troy ounce.
Tuesday's deadline is under close scrutiny by Canada, top commerce and trade partner to the U.S., Reuters reports.
"They need a plan that is convincing. It may mean some pain for Americans for a time as they work their way forward to reduce deficits and gradually reduce debt," Canadian finance minister Jim Flaherty told Toronto's 640 AM radio station, according to the wire service. "It isn't something that needs to be done overnight … but it needs to be done over the medium term, over the course of the next five or 10 years."
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