Precious Metals Report: Gold surges to record on euro, silver at $40

Reuters reports that a weaker dollar and concerns about inflation sent investors piling into precious metals on Friday.

The market news is quoted as saying,

“Maybe there is some dollar-related buying because it’s weakening. People see the ETF increasing a bit, so they want to buy some gold,” said Ronald Leung, director of Lee Cheong GoldDealers in Hong Kong.