Gold climbed for the first time in three sessions as U.S. lawmakers remained deadlocked over extending the nation’s debt limit to avoid default amid a government shutdown, stoking demand for the metal as a store of value.
December gold rose 1.2% to finish at US$1,325.10 an ounce on the Comex division of the New York Mercantile Exchange.
The increase in the value of the yellow metal will be a positive for Australian Stock Exchange listed companies in the sector today.
Gold stocks to watch on the Australian Stock Exchange today include Silver Lake Resources (ASX:SLR), Millennium Minerals (ASX:MOY), Medusa Mining (ASX:MML) and Newcrest Mining (ASX:NCM).
In other metals, silver futures for December delivery jumped 2.9% to US$22.386 an ounce, after reaching US$22.495, the highest for a most-active contract since Sept. 20.
On the New York Mercantile Exchange, platinum futures for January delivery advanced 1% to US$1,401.90 an ounce.
Palladium futures for December delivery rose 0.5% to US$705.35 an ounce.
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