19
May
Gold May Gain for Second Straight Day on Slowdown, European Debt Concerns
19 May 2011 Bloomberg.com
Gold may advance for a second day as further signs of a global economic slowdown and protracted sovereign-debt concerns in Europe spurred demand for precious metals as a store of value.
Immediate-delivery gold traded little changed at $1,497 per ounce at 12:42 p.m. in Singapore after gaining as much as 0.3 percent to $1,500.82. Gold for June delivery in New York was also little changed at $1,497 an ounce, while silver futures jumped as much as 1.8 percent to $35.71 an ounce, extending yesterday’s 4.8 percent advance.
