20
December
Gold Advances as Physical Demand Boosts Prices; Silver, Palladium Climb
20 December 2010 Bloomberg.com
Gold rose in London as political tensions between South Korea and North Korea drove investors to precious metals as a haven. Silver also climbed.
South Korea said a live-fire drill that drew threats of retaliation from North Korea ended without incident. Some investors buy gold in times of global tensions. Gold assets in exchange-traded products, or ETPs, rose 0.7 percent to a record 2,113.2 metric tons as of Dec. 17, according to data collected by Bloomberg from 10 providers. Gold prices have jumped 26 percent this year as ETP holdings climbed almost 18 percent.
