Silver Clears $28
November 9th, 2010Via: Bloomberg:
Gold advanced to a record in London as concern that some European governments may struggle to raise funds boosted demand for a protection of wealth. Silver reached a 30-year high of more than $28 an ounce.
The euro weakened against the dollar on concern debt- stricken nations will struggle to repay bondholders and spending cuts will stifle growth in the region. The greenback fell to a nine-month low last week as the Federal Reserve said it will purchase more debt. Gold usually moves inversely to the dollar.
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Silver just cleared $29. Astonishing.