Gold moderate growth on light volume

Gold prices show an increase on light volume amid uncertainty of investors in the ability of American politicians to prevent the financial crisis.

U.S. President Barack Obama is likely to interrupt vacation in Hawaii and returning to Washington on Wednesday night to continue negotiations with the Congress of the "fiscal cliff." Although gold is usually more expensive in times of economic uncertainty, in recent times, it behaves more like a risky asset and can grow in value, if the problem is "budget break" will be solved.

Gold has had a reduction in support for the U.S. dollar, after it became known that in October, the price of housing in the country decreased slightly, but registered a significant increase in the annual ratio.

The composite index of home prices in 20 cities in the U.S. S & P / Case-Shiller registered in October, a decline of 0.1% after a 0.2% gain in September. In annual terms prices rose by 4.3%, which was the highest result since May 2010, beating forecast 4.0%.

In addition, in December, the index of manufacturing activity fell from the Federal Reserve Bank of Richmond the previous month 9 to mark 5, confounding forecasts of growth in 12. Employment component dropped to -3 against three in November, and the new orders index eased from +11 to +10.

On the physical market, dealers say interest from jewelers in South-East Asia.

February futures price of gold on COMEX today rose to 1668.70 dollars per ounce.