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Gold vaults above $1,300/ounce as dollar drops after debt deal

Reuters [1]
October 17, 2013

LONDON: Gold prices surged on Thursday, moving swiftly into positive territory to their highest in a week as the dollar lost traction after US lawmakers agreed a last-minute deal to dodge a potentially catastrophic debt default.

Spot gold stood at $1,309 per ounce by 0807 GMT, up 2.14 per cent and having hit a high of $1,318.40.