Gold at 1340 however US Budget Uncertainty Looms

Spot gold prices are likely to fall this week though declines may be limited by investors seeking a safe-haven alternative to the weakening dollar as the U.S. budget impasse deepens and fears of a government shutdown loom, according to CNBC’s latest market survey of traders, analysts and strategists.

The Republican-controlled House of Representatives early on Sunday passed a measure that ties government funding to a one-year delay of President Barack Obama’s landmark health care restructuring law.

Senate Democrats have vowed to quash it, Reuters reported. If a spending bill for the new fiscal year is not passed before midnight on Monday, government agencies and programs deemed non-essential will begin closing their doors for the first time in 17 years.


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