Gold slips to a one-week low on U.S. budget issues

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Source: Bloomberg
© Scanpix/Reuters
Spot gold price dropped by 1% to $1,694.35 an ounce in the beginning of Asian trading hours on Thursday. Gold slipped to a one week low after a recent rally as the price reached the highest price this month. Investors sell this precious metal on the news  from U.S. lawmakers, as they face difficulties to reach a deal on U.S. budget, therefore threatening to curb domestic economic growth.
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