4
November
Silver Climbs to 30-Year High, Gold Advances as Fed Boosts Debt Purchases
4 November 2010 Bloomberg.com
Gold rose in London as the dollar fell after the Federal Reserve said it will purchase more debt, boosting demand for an alternative investment. Silver climbed to a 30-year high and palladium reached a nine-year high.
The dollar slipped to a nine-month low versus the euro after the Fed yesterday said it will buy an additional $600 billion of Treasuries through June to boost the U.S. economy. Gold, which usually moves inversely to the greenback, is trading 1.9 percent below a record $1,387.35 set on Oct. 14.
