But the report also said the increase in the deficit would be temporary and would not be passed on to future generations.

CNN: Kerry: Bush?would break promise on Social Security

They noted the bill adds to the US budget deficit, while also objecting that the low tax rates - which have the biggest impact on the deficit - are only temporary.

BBC: US tax cuts: Obama signs compromise deal into law

Numerous analysts previously said they anticipated a temporary correction lower in gold when the deficit-ceiling impasse ended.

FORBES: Gold Underpinned By Downgrade Worries, Economy, European Debt Issues, Central-Bank Buying