Silver at 15-month high as gold hits record
London: Silver prices rallied to their highest since July 2008 in Europe on Tuesday as gold prices rose to a record above $1,065 an ounce, boosted by persistent weakness in the dollar. The US currency slid to 13-month lows against the euro on Tuesday. Weakness in the unit makes dollarpriced commodities like gold and silver cheaper for holders of other currencies. Spot silver hit a peak of $18 an ounce, and was bid at $17.90 an ounce against $17.68 late in New York on Monday. Gold rose to a record high at $1,064 an ounce on Tuesday as the dollar slipped against the euro, increasing the metal's appeal as an alternative asset. Firmer oil prices and an improvement in physical demand for gold after a sluggish year for jewellery buying are also lifting gold prices, analysts said. Spot gold was bid at $1,063 an ounce at against $1,055 late in New York on Monday. Weak physical demand for gold raises doubts about the sustainability of high prices, although it may hold on to the $1,000 level for the next few months, an exec at metals consultancy GFMS said. AGENCIES --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
