Gold Rises to Record on Dollar Weakness; Silver Extends Rally
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Gold climbed to a record for a second day as a weaker dollar spurred demand for an alternative investment. Silver futures extended a rally to a 30-year high.
The greenback dropped to the lowest level in 10 months against a basket of six major currencies on bets that the Federal Reserve will buy more debt to sustain the economic recovery. Asian central banks may continue to increase gold reserves, said the Bank of Nova Scotia.