Gold Rises, Caps 10th Straight Quarterly Gain, on Haven Demand
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Gold futures rose, capping the longest streak of quarterly gains in more than three decades, as fighting in Libya and European-debt concerns spurred demand for the metal as an alternative investment. Silver also gained.
Gold futures for June delivery advanced $15, or 1.1 percent, to close at $1,439.90 an ounce at 1:53 p.m. on the Comex in New York, a record settlement. This quarter, the metal climbed 1.3 percent, marking the 10th straight gain, the longest rally since at least 1975. On March 24, the commodity reached $1,448.60, the highest intraday price ever.