Gold Nears Record on Libya, Debt Concern; Silver at 31-Year High
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Gold rose for the seventh straight session, nearing a record, as fighting in Libya and Europe’s debt crisis spurred demand for an alternative investment. Silver climbed to a 31-year high.
U.S. and allied warplanes carried out further strikes against Muammar Qaddafi’s ground troops as Libyan government forces increased their attacks on cities. Portuguese Prime Minister Jose Socrates tendered his resignation, pushing the country closer to an international bailout. Engineers at Japan’s damaged Fukushima Dai-Ichi nuclear plant were evacuated from one reactor after three men suffered radiation burns.