Gold Futures Rise to Record Closing Price on `Currency Debasement’ Concern

Bloomberg reports that Gold futures rose to a record settlement of $1,416.10 an ounce on concern the U.S. will pump more cash into the economy.

The market news is quoted as saying:

Federal Reserve Chairman Ben S. Bernanke said the central bank may boost Treasury purchases. European officials were split on containing the sovereign-debt crisis. Gold priced in euros and U.K. pounds rose to records, and silver futures topped $30 an ounce, extending a rally to a 30-year high.

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