10
September
Gold Approaches Record Price on Investor Demand for Protector of Wealth (GC in Bloomberg)
10 September 2010 Bloomberg.com
Gold traded near a record in New York as investors sought an alternative to equities and a protection of wealth on concern the economic recovery is stalling. Silver gained to the highest level since March 2008.
The euro was little changed against the dollar as traders increased bets the Federal Reserve will keep interest rates near zero, while the yen was near a 15-year high against the greenback on speculation a business survey will add to evidence the U.S. economic recovery is stalling. Gold futures are 0.3 percent from a record and had the highest ever close yesterday. Global equities yesterday fell the most in two weeks.
