1
October
Gold Climbs to Record on Wealth-Shield Demand; Silver Advances (GoldCore in Bloomberg)
1 October 2010 Business Week
Gold rose to a record in New York and London as investors sought protection from financial turmoil in Europe and a weakening dollar. Silver climbed to a 30-year high and palladium reached a 2 1/2-year high.
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Silver futures are set for the second-highest quarterly close since at least 1975, which is “very bullish technically,” said Mark O’Byrne, executive director of brokerage GoldCore Ltd. in Dublin. “A lot of technically minded traders will look at that, and now look at the next psychological level of $25.”
