24
September
Gold Climbs to Record on Concerns for Weaker Dollar, Recovery
24 September 2010 Business Week
Gold climbed to a record in London and New York as investors sought a protection of wealth and an alternative to a weakening dollar. Silver rose to the highest price since 1980 in London.
The dollar headed for a weekly drop against the euro on concern the Federal Reserve is moving closer to boosting debt purchases, while European equities declined. The metal, which usually moves inversely to the greenback, advanced to a record for the fourth day this week. Silver, also used in industrial applications, headed for a fifth weekly advance.
