Gold, Silver Gain as Commodity Rally Spurs Inflation Concern
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Gold futures rose the most this month as grain and energy prices surged, boosting the appeal of the precious metal as a hedge against inflation. Silver jumped almost 4 percent.
The Thomson Reuters/Jefferies CRB Index of 19 raw materials gained as much as 2.6 percent. Global food costs are close to the highest ever, according to the United Nations, and crude oil topped $100 a barrel today. Analysts surveyed by Germany’s Ifo research institute raised their 2010 global inflation forecast to 3.8 percent from 3.4 percent.