Gold for December delivery climbed around US$10 Monday to US$1278 an ounce on COMEX, with the yellow metal finding support from investors as U.S. lawmakers continue to bicker.
In the spot market the yellow metal last traded at US$1274 an ounce.
The U.S. Government has been partially shut down since the start of October, and will exhaust its $16.7 trillion borrowing authority on Thursday 17th October 2013.
IMF head Christine Lagarde claimed that a U.S. debt default could send the global economy back into recession.
The rising increase in the gold price and the AUD / USD at 0.95, this prices bullion in the local currency at A$1345.
Gold producers 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).
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