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Gold Futures Rise as Inflation Concerns Mount; Silver Tops $30
Feb. 08, 2011 04:52PM PST
Precious MetalsBloomberg 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.
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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