GOLD prices surged again to a high of 1632.79 regions last Friday. Conservative Republicans hijacked the Congress last week and refused its own party’s debt-ceiling deal, effectively taking the US economy hostage.
The deadlock created a dysfunctional situation in the US political system on a scale never seen before, which worries Europe, Britain and China. A downgrade on US debt rating is currently a ticking possibility on coming repayment dues on its Treasuries.
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