Gold and Silver Rise as US Shutdown Threatens US Growth

Gold climbed as the first U.S. government shutdown in 17 years began, increasing demand for a protection of wealth on concern that the impasse may endanger the recovery in the largest economy. Silver increased.
U.S. lawmakers failed to forge an agreement in budget talks for the new fiscal year that started at midnight, triggering the shutdown that risks curbing growth. Parts of the economy that depend on the government “would be hamstrung,” President Barack Obama said before the deadline. No further negotiations between the two main parties are scheduled.

via Bloomberg

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza