Gold prices drop on budget hopes
MADRID (MarketWatch) — Gold prices fell in electronic trading on Thursday pressured by signs that U.S. lawmakers may be making progress over resolving the budget standoff. Equities rallied in Europe and U.S. stock market futures were also pointing to a sharply higher open for Wall Street. Gold for December delivery (CNS:GCZ3) fell nearly $5, or 0.4%, to $1,302.50 an ounce, while silver for December delivery (CNS:SIZ3) rose 5 cents to $21.93 an ounce.