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Gold Fluctuates in London After Advancing to a Record; Silver Reaches $22
Posted By admin On September 29, 2010 @ 3:37 am In Money Watch | Comments Disabled
Nicholas Larkin and Sungwoo Park
Sept 29, 2010
Gold fluctuated in London after climbing to a record for a fourth day on demand for an alternative to a weakening dollar. Silver reached the highest price since 1980.
The dollar was steady against the euro after falling to a five-month low on speculation the Federal Reserve will add to monetary easing to bolster the slowing U.S. economy. Gold held in exchange-traded products climbed the most in more than three months yesterday to an all-time high. Silver touched $22 an ounce.
“Speculation of additional stimulus measures and its inflationary implications longer-term continues to draw investors toward gold and silver,” along with a weaker dollar, said James Moore , an analyst at TheBullionDesk.com in London. “Pockets of profit-taking are expected in the run-up to month and quarter end.”
Immediate-delivery bullion added as much as $4.40, or 0.3 percent, to $1,313.45 an ounce and traded at $1,308.85 at 10:52 a.m. in London. Prices swung between a gain of 0.3 percent and a loss of 0.2 percent. Gold for December delivery was up 0.1 percent at $1,309.80 an ounce on the Comex in New York after reaching $1,314.80.
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URLs in this post:
 Bloomberg: http://www.bloomberg.com/news/2010-09-29/gold-advances-to-record-for-fourth-day-as-fed-may-add-to-monetary-easing.html
 James Moore: http://search.bloomberg.com/search?q=James%20Moore&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja
 Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43
 Image: http://www.homegain.com/homevalues
 Gold Gains as Dollar Weakens on Fed; Silver Reaches 30-Year High: http://www.prisonplanet.com/gold-gains-as-dollar-weakens-on-fed-silver-reaches-30-year-high.html
 Gold Reaches $1,913.50 – Smart Money Moving Into Silver As UBS Says $50 Silver In 3 Months: http://www.prisonplanet.com/gold-reaches-1913-50-%e2%80%93-smart-money-moving-into-silver-as-ubs-says-50-silver-in-3-months.html
 Gold Advances to Record in London on Demand for a Dollar Hedge: http://www.prisonplanet.com/gold-advances-to-record-in-london-on-demand-for-a-dollar-hedge.html
 Gold Will Keep Advancing After Reaching Record, Survey Shows: http://www.prisonplanet.com/gold-will-keep-advancing-after-reaching-record-survey-shows.html
 Gold hits record on euro, silver jumps to 31-year top: http://www.prisonplanet.com/gold-hits-record-on-euro-silver-jumps-to-31-year-top.html
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