Gold Rises to Record Close, Silver Tops $31 on Haven Demand
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Gold futures rose to a record closing price and silver topped $31 an ounce, extending a rally to the highest since 1980, as Europe’s sovereign-debt woes spurred demand for precious metals as a haven.
Gold rallied 30 percent in 2010, the 10th straight annual gain and the biggest yearly advance since 2007. Last month, Moody’s Investors Service put the credit ratings of Greece and Spain on review and slashed Ireland’s ranking by five levels. Gold priced in U.K. pounds climbed to a record today.