7
October
Gold Gains to Record, Silver Extends Advance on Monetary Easing Concerns
7 October 2010 Bloomberg.com
Gold gained to a record for a third straight day and silver climbed to a 30-year high on speculation that government spending will weaken the dollar and spur demand for precious metals as alternative assets.
Gold for immediate delivery reached a record $1,355.97 an ounce before trading at $1,355.70 an ounce at 3:35 p.m. Seoul time. December-delivery futures also hit an all-time high, rising as high as $1,357.30 an ounce on the Comex in New York. Cash silver gained to $23.38 an ounce, the highest price since September 1980, and last traded at $23.3063.
