Gold prices rose on Monday as the U.S. debt ceiling stalemate and concerns over an economic slowdown steered some traders towards the safe-haven metal.
President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy including huge job losses if the country defaults, as negotiations to forge a debt deal are expected to resume this coming week.
Spot gold was up 0.4% at $22,018.76 per ounce , after falling for three sessions. U.S. gold futures rose 0.2% to $2,023.60.
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