Gold Rises on Fed Pause Hopes and Debt Ceiling Resolution

Analysts believe that gold's safe-haven appeal will not weaken anytime soon, despite the US Congress passing legislation to increase the debt ceiling. While some analysts believe that the deal could weaken gold's safe-haven allure, others note that more significant issues are still at play. Gold prices are again testing resistance at $2,000 an ounce, and investors are now focused on the Federal Reserve's next monetary policy meeting. The question now is what comes next, and looking past any near-term volatility, gold could do well as the Treasury Department unleashes a flood of debt to meet their payment obligations.