Gold vaults above $1,300/ounce as dollar drops after debt deal
LONDON (Reuters) - Gold prices surged on Thursday, moving swiftly into positive territory to their highest in a week as the dollar lost traction after U.S. lawmakers agreed a last-minute deal to dodge a potentially catastrophic debt default.
Spot gold stood at $1,309 per ounce by 0807 GMT, up 2.14 percent and having hit a high of $1,318.40.
(Reporting by Veronica Brown; Editing by Dale Hudson)