| Gold and Silver have been the popular investments of | | | | said Bernard Sin, head of currency and metal trading |
| late with both of them hitting record price levels not | | | | at bullion refiner MKS Finance SA in Geneva. Recent |
| seen in more than 30 years. Investors are wary of | | | | "data has been showing signs of a troubled economy. |
| speculative investments and tired of so much | | | | That's why we've seen this huge buying for investors |
| uncertainty in the markets, so they go with tangible | | | | as a safe haven." |
| investments like precious metals and oil. This trend has | | | | Immediate-delivery bullion added as much as $5.90, or |
| had positive effects on SmallCap companies as well in | | | | 0.5 percent, to $1,298.35 an ounce and traded at |
| this industry, and even exploratory companies with no | | | | $1,296.95 at 9:32 a.m. in London. Gold for December |
| current production have welcomed all the new | | | | delivery was 0.2 percent higher after reaching |
| investors of late thanks to this swing. | | | | $1,299.70 an ounce on the Comex in New York. |
| Gold climbed to a record in London and New York as | | | | Silver for immediate delivery in London climbed as |
| investors sought a protection of wealth and an | | | | much as 1.2 percent to $21.3875 an ounce, the highest |
| alternative to a weakening dollar. Silver rose to the | | | | price since October 1980. |
| highest price since 1980 in London. | | | | Gold, up 18 percent this year, is heading for its 10th |
| The dollar headed for a weekly drop against the euro | | | | consecutive annual gain, the longest winning streak |
| on concern the Federal Reserve is moving closer to | | | | since at least 1920. Bullion has outperformed global |
| boosting debt purchases, while European equities | | | | equities, Treasuries and most industrial metals, |
| declined. The metal, which usually moves inversely to | | | | prompting record investments in gold-backed |
| the greenback, advanced to a record for the fourth | | | | exchange-traded products. The metal rallied as central |
| day this week. Silver, also used in industrial applications, | | | | banks and governments maintained low borrowing |
| headed for a fifth weekly advance. | | | | costs and spent trillions of dollars to stimulate their |
| "Gold is showing there is no confidence in the dollar," | | | | economies. |