News Summary: Gold rises on "fiscal cliff" outlook

AP News
Posted: Dec 27, 2012 4:23 PM

SAFETY FIRST: Gold edged higher Thursday after Senate Majority Leader Harry Reid said that it appeared the government would miss the deadline for avoiding the "fiscal cliff." That spurred safe-haven buying and halted a decline for the metal.

WORST QUARTER: Gold is still on track for its worst quarter in more than eight years, spurring speculation that the metal's rally is drawing to an end.

NO GRAIN OF COMFORT: Wheat, corn and soybeans extended declines, with wheat on course to record its biggest monthly decline in more than a year.