14
October
Gold Gains to Record for a Second Day as Weakening Dollar Increases Appeal
14 October 2010 Bloomberg.com
Gold climbed to a record in London and New York for a second day as a weaker dollar spurred demand for an alternative investment. Silver extended a rally to a 30- year high and palladium surged to a 9-year high.
The dollar slid to the lowest level since January against the euro and fell to a 15-year low versus the yen before reports likely to fuel speculation the Federal Reserve will ease policy further. Gold, which usually moves inversely to the greenback, traded within 1 percent of $1,400 an ounce in London.
