Gold at near 7-week low; silver set for worst month in a year

NEW YORK. Gold steadied near a sevenweek low after US lawmakers struck a deal to avoid a government shutdown. Silver was also flat as it headed for its worst monthly performance in a year.

Gold is on course for its biggest monthly loss since June as precious metals have been pressured by the prospect of a pullback in US stimulus steps. Spot gold was little changed at $1,724.78 an ounce by 12:53pm in London. Spot silver traded flat at $21.53 an ounce. (Bloomberg)