Gold, silver surge on higher unemployment claims

CNBC reports that gold and silver prices surged Thursday after the government reported higher wholesale prices and a jump in first-time applications for unemployment benefits.

The market news is quoted as saying,

The news added to unease among investors about Europe’s financial problems, Japan’s crisis and uprisings in the Middle East and North Africa. That led to higher prices for precious metals, which are seen as more likely to remain stable during times of uncertainty.

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