Gold to Test Support
http://newsdoors.blogspot.com/2012/12/gold-to-test-support.html
Comex gold futures ended lower on Friday, on track for their biggest weekly drop since the start of the month, with an uncertainty about crucial US talks to avert a fiscal crisis continuing to dent sentiment. Top Republican lawmaker John Boehner said on Thursday that the talks had made little progress, after expressing optimism about reaching a deal with the White House just a day earlier.
If the parties fail to reach an agreement, $600 billion in tax hikes and spending cuts – dubbed as the “fiscal cliff” – will automatically kick off in early January, threatening to push the world’s top economy into recession.
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