10
November
Gold Advances on Increased Investor Demand for Alternative to Currencies
10 November 2010 Bloomberg.com
Gold climbed on speculation that European governments may struggle to pay debt, which boosted demand for the precious metal as an alternative to currencies.
Gold for immediate delivery gained 0.4 percent to $1,398.20 an ounce at 2:30 p.m. in Seoul. The metal reached to an all-time high of $1,424.60 an ounce yesterday on concern that Ireland and Greece will struggle to repay bondholders, and spending cuts may stifle growth in the region.
