Chris Mullen of GoldSeek.com wraps up Tuesday's action...
The Gold Price traded in a tight range during Tuesday's Asian and London trading, but it then moved steadily higher in the last few hours of trade in New York and ended with a gain of 0.27% at a new record closing high of $1616.20.
The Euro Gold Price fell to about €1115.
Silver Prices briefly dipped back under $40 in New York before they too rallied back higher in late trade and ended with a gain of 1.14%.
Silver and Gold Mining stocks waffled near unchanged and ended mixed.
Platinum gained $16.75 to $1804, and copper gained over 7 cents to about $4.47.
Oil rose as the US Dollar fell on continued worries about the lack of a deal on the deficit.
US Treasuries remained higher after Tuesday's $35 billion 2-year note auction sold at a high yield of 0.417% with a bid to cover of 3.14.
The Dow, Nasdaq, and S&P traded mostly slightly lower on worries over debt.
Among the big names making news in the market Tuesday were American Apparel, UPS, Chrysler, 3M, Ford, and Books-A-Million and Borders.
Wednesday at 8:30am EST brings Durable Goods Orders for June expected at 0.5%. Excluding transportation, orders are still expected at 0.5%. At 2pm is the release of the US Federal Reserve's Beige Book for July.
Buying Gold? Make it safer, cheaper and easier with BullionVault...