Investing.com – Gold prices pared losses and held steady on Monday, as traders continued to evaluate the consequences of the U.S. government shutdown on Friday.
Comex were little changed at $1,332.90 a troy ounce by 08:35 a.m. ET (12:35 GMT).
The U.S. government shutdown entered a third day after the Senate Sunday night to fund government operations.
But the Senate plans to vote at 12:00 p.m. ET Monday (17:00 GMT) on a temporary spending measure that will keep the government open through February 8.
Lawmakers have been trying to reach a deal on immigration, which is viewed as crucial to breaking the deadlock.
This is the first U.S. government shutdown since 2013. That year, the government was shut down for 16 days.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.22% at 90.29, not far from Friday’s three-year low of 89.96.
Gold is sensitive to moves in the dollar. A weaker dollar makes gold less expensive for holders of foreign currency.
Elsewhere on the Comex, added 0.14% to $17.06 a troy ounce.
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Source: Investing.com
