Analysts said investors remained focus on US fiscal crisis as uncertainty over whether the world's largest economy would be able to avoid a fiscal crisis kept investors at bay.
SINGAPORE(BullionStreet): Gold dropped in Asian trade Wednesday but increased physical buying might help prices recover during the day, analysts said.
Gold for immediate delivery was seen trading at $1654.71 an ounce at 12.30 p.m Singapore time while US gold for February delivery was seen at $1655.84 an ounce.
Analysts said investors remained focus on US fiscal crisis as uncertainty over whether the world’s largest economy would be able to avoid a fiscal crisis kept investors at bay.
Article Source: Bullionstreet