If the fiscal-cliff debate lingers, some analysts expect gold toactas a risk asset and track markets like equities, while others look for the precious metal to regain its safe-haven appeal.
The problems of fiscal deficits generally and Euro zone difficulties in particular are likely toactas a drag on business prospects for companies in the period ahead, especially if the growth markets are affected.
Any hopes that Asian economies had "decoupled" from those in the West and could actas havens for investors were dashed, despite the efforts of policy makers to keep their fiscal houses in shape and temper inflation.
Federal programmes actas automatic fiscal stabilisers, siphoning off tax revenues from booming areas and transferring them to ailing regions as unemployment insurance or health benefits for the poor.