21
June
Gold Approaches Record as Investment Demand Surges on Europe Turbulence
21 June 2010 Bloomberg.com
Gold advanced, approaching an all- time high, as investors flocked to the precious metal to protect their wealth from ongoing turbulence in Europe and growing uncertainty in the global economy.
Bullion for immediate delivery strengthened as much as 0.3 percent to $1,261 an ounce and traded at $1,259.50 an ounce at 1 p.m. in Singapore. The metal climbed to a record $1,262.50 an ounce on June 18. August-delivery futures were up 0.2 at $1,258 an ounce. Gold futures in Shanghai gained to a record 276.7 yuan ($40.54) a gram.
