7
December
Gold May Gain on Demand for Currency Alternative; Silver Near 30-Year High
7 December 2010 Bloomberg.com
Gold climbed to records in New York and London on investor demand for an alternative investment to currencies. Silver advanced to a 30-year high.
Gold rallied as the dollar fell to a three-week low against the yen after President Barack Obama said he would agree to sustain tax cuts, boosting demand for riskier assets. Gold traded in Japanese yen rose to the highest price since 1983. Precious metals gained this year as Europe’s debts weakened paper money.
