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\t\t<\/span><\/p>\n <\/span><\/p>\n \n \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":" * Heavy sell-offs in U.S. equities, crude weighs * Attention shifts to resolving U.S. “fiscal cliff” * Early rally on Obama win, more economic stimulus fizzles * Coming up: U.S. international trade, jobless claims Thursday By Frank Tang NEW YORK, Nov 7 (Reuters) – Gold pared gains on Wednesday ending slightly higher, after d eclines […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-16507","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=16507"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16507\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}* Heavy sell-offs in U.S. equities, crude weighs\n * Attention shifts to resolving U.S. \"fiscal cliff\"\n * Early rally on Obama win, more economic stimulus fizzles\n * Coming up: U.S. international trade, jobless claims\nThursday\n\n\n By Frank Tang\n NEW YORK, Nov 7 (Reuters) - Gold pared gains on Wednesday \nending slightly higher, after d eclines i n e quities and crude o il\nknocked bullion off its high, as investors zeroed in on a\nlooming U.S. fiscal crisis following the re-election of\nPresident Barack Obama.\n Earlier in the day, bullion rose nearly 1 percent as Obama's\nvictory fuelled speculation that four more years of a Democrat\nin the White House would contribute to an extension of the\nFederal Reserve's easy monetary policy.\n Gold's rally later fizzled as a sell-off on Wall Street\ndeepened worries over the \"fiscal cliff,\" a $600 billion package\nof tax increases and spending cuts to take effect automatically\nat the end of 2012, a scenario that could severely strain the\neconomy. \n \"The re-election of President Barack Obama means we are\nturning our focus back to the fiscal cliff, and the uncertainty\nof U.S. policies can send gold in either direction,\" said\nJeffrey Sherman, commodities portfolio manager of DoubleLine\nCapital LP, which manages more than $45 billion in assets.\n Worries about deflationary forces due to the fiscal crisis\ncould weigh on gold. However, huge economic uncertainty related\nto the country's fiscal accounts in 2011 had boosted safe-haven\ndemand and sent gold to a record high.\n Spot gold was up 0.2 percent at $1,71 9 . 51 an ounce by\n3:18 PM ES T (2 051 GMT), after hitting a session low at\n$1,703.80, which was nearly $30 below an earlier high of\n$1,731.40.\n U.S. gold futures for December delivery settled down\n$1 at $1,714 an ounce.\n T rading volume was at a strong 270,000 lots, or 53 percent\nabove its 250-day average, and set to finish at its h ighest in\nabout 2 months, preliminary Reuters data showed. \n \n FISCAL CRISIS EYED\n A split Congress will keep open the likelihood of messy\nnegotiations to avert the fiscal crisis that risks pushing the\neconomy into deep recession.\n Gold was hit by heavy liquidation pressure from outside\nmarkets w hich were pummelled by economic fears. The SP 500\nindex fell over 2 percent to drop below 1,400 points for\nthe first time in more than two months, and U.S. crude futures\n tumbled 4.5 percent. \n Andrew Cole, fund manager with Baring Asset Management,\nsaid: \"I think people would be less inclined to own U.S. stocks\nand bonds in an event where they don't know how policy will be\nfixed.\"\n However, he saw an eventual return to more tolerance of\nrisk, which would see gold weaken. \n Other precious metals also tracked the boarder markets to\nreverse earlier gains.\n Silver edged down 0 . 3 percent to $31. 87 an ounce.\nA mong platinum group metals, pl atinum was down 0.6 \np ercent at $1,540. 2 4 , while palladium fell 0. 7 p ercent to\n$609.5 0 . \n \n 3:18 PM EST LAST\/ NET PCT LOW HIGH CURRENT\n SETTLE CHNG CHNG VOL\n US Gold DEC 1714.00 -1.00 -0.1 1703.00 1733.00 240,468\n US Silver DEC 31.661 -0.373 -1.2 31.215 32.420 62,619\n US Plat JAN 1539.50 -18.80 -1.2 1534.50 1569.90 10,515\n US Pall DEC 610.35 -9.80 -1.6 602.60 625.15 4,195\n \n Gold 1719.51 4.17 0.2 1703.80 1731.40 \n Silver 31.870 -0.080 -0.3 31.250 32.400\n Platinum 1540.24 -9.75 -0.6 1537.25 1564.25\n Palladium 609.50 -4.10 -0.7 606.02 622.50\n \n TOTAL MARKET VOLUME 30-D ATM VOLATILITY\n CURRENT 30D AVG 250D AVG CURRENT CHG\n US Gold 270,101 147,521 176,015 16.37 -0.38\n US Silver 73,108 40,861 55,593 27.87 1.99\n US Platinum 10,721 10,790 9,378 19.23 0.03\n US Palladium 4,449 3,337 4,466<\/pre>\n