18
June
Gold May Climb to Record as Investors Seek Refuge From Europe
18 June 2010 Bloomberg.com
Gold, headed for the biggest weekly gain in three weeks, may rise on investor buying stemming from Europe’s financial turbulence and on concern that the economic recovery may be weaker than expected.
The metal, set for an eighth weekly gain in nine weeks, rose to within 0.4 percent of a record $1,252.11 an ounce set last week. U.S. data yesterday showed slowing manufacturing growth and an increase in jobless claims. European Union leaders yesterday agreed to disclose how banks perform on stress tests, seeking to show the financial system can withstand shocks.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a546.6b7OQLw
