26
April
Silver, Gold Hit Records Ahead Of Fed Meeting
26 April 2011 Wall Street Journal
Silver prices surged to a new record and gold also hit it's highest-ever price on continued weakness in the U.S. dollar and uncertainty ahead of a Federal Reserve policy meeting.
Both metals pared their gains, however, as participants sought to cash in on the record high prices.
The most actively traded Comex silver contract, for May delivery, rose $1.09, or 2.4%, to settle at a record $47.149 a troy ounce. Front-month April silver gained $1.089, or 2.4%, to end at $47.151, shy of its 1980 record settlement of $48.700 around the time the Hunt brothers from Texas attempted to corner the silver market.
