GOLD vs. US Debt Crisis

1 Aug 2011, US House of Rep has finally approved the debt deal to uplift the govt's $14.3trillion debt limit. In the other word, this will remove the risk of the US not being able to borrow money to pay all of its bills. [Related news on Reuter]

Could be a good news to some, and bad news to the others. ;)

Expecting that gold price would go downward as the share index is currently peaking up everywhere, I checked on the graft and noted not much difference - it did went down for a while, but then it peaked up again and currently stabilizing. Closed monitoring on the trend may be recommendable at this point of time.

This situation may be temporary - South Korea Central Bank had recently bought 25 tonne of gold in June & July.