Gold Futures Rise as Inflation Concerns Mount; Silver Tops $30

Bloomberg reports that after China increased borrowing costs to slow inflation, gold futures climbed to a two-week high on demand for a hedge against rising consumer prices. Silver advanced to a one-month high, topping $30 an ounce.

The market news is quoted as saying:

Gold futures for April delivery rose $15.90, or 1.2 percent, to settle at $1,364.10 an ounce at 1:15 p.m. on the Comex in New York. Earlier, the price reached $1,368.70, the highest since Jan. 20.

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https://www.bloomberg.com/news/2011-02-08/gold-rises-to-two-week-high-as-inflation-accelerates-china-boosts-rates.html