So-called fiscal cliff negotiations resumed over the weekend between President Barack Obama and House Speaker John Boehner (R., Ohio) without any details of what they discussed, but a spokesman for Boehner said "the lines of communication remain open."
Gold prices occasionally have reacted to news that has emerged from negotiations about the fiscal cliff -- when tax relief measures and deep spending cuts will automatically go into effect.
A lack of more specifics from the weekend meeting between the president and the Republican speaker appears to have failed to move investors in a decided direction.
For Monday, most eyes are on the possibility of more monetary stimulus from the Fed.Gold mining stocks were mostly higher Monday. Shares of Goldcorp (GG - Get Report) were gaining 0.71%, while shares of Royal Gold (RGLD - Get Report) were increasing 1.8%. Among volume leaders, Barrick Gold (ABX - Get Report) was climbing 2%, and Newmont Mining (NEM - Get Report) was up 2.1%. Gold ETF SPDR Gold Trust (GLD) was increasing 0.44%, while iShares Gold Trust (IAU) was up 0.46%. -- Written by Joe Deaux in New York. >Contact by Email. Follow @JoeDeaux
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts