7
September
Gold May Climb to Record on Concern European Banks May Need Extra Funding
7 September 2010 Bloomberg.com
Gold, little changed, may advance on concern that European banks may struggle to raise funds, increasing the appeal of the metal as a means to protect wealth. Silver traded near the highest level since March 2008.
Immediate-delivery gold climbed as much as $1.25 to $1,251.30 an ounce, about 1.1 percent from the all-time high of $1,265.30 reached in June, before trading at $1,249.57 at 4:03 p.m. in Seoul. Gold for December delivery was little changed at $1,251.40 on the Comex in New York.
