The U.S. national debt continues to surge higher every day and is now at $16.95 trillion and will soon surpass the $17 trillion mark. But that's just the official number. The real number may be much higher.
The plunge in gold to an almost three-year low has failed to lure shoppers in India, the world’s largest consumer, as state curbs and a decline in the rupee to a record bolster the costs of imported metal.
Gold is hovering unchanged ahead of the US FOMC policy statement that takes place at 1730 GMT and Ben Bernanke’s news conference is at 1915 GMT. Investors believe that the Fed will reveal more bond purchases and a continued loose monetary stance.
Gold is relatively unchanged on Tuesday as investors await the US presidential election results, and remain cautious with news of Greece’s two-day general strike against the new austerity package plus the upcoming Chinese leadership transition.
Gold edged down on Monday, as pressure from speculators exiting long positions and continued concern about the health of the global economy dampened interest. US commodities long bets have decreased to their lowest levels since the end of August.
Wholesale bullion prices to buy gold recovered an early dip in London on Wednesday morning, rising back to $1,750 per ounce as European stock markets also rose and the single currency hit its best level in more than a month.