Gold News & Info

Source: Marketwatch

San Francisco— Gold futures crawled higher Thursday, shaking off the weakness that permeated part of floor trading to make history a third time. Gold cinched a settlement and an intraday nominal record highs, its third consecutive, and helped silver, the poor man�s gold, reach another 31-year high close. Momentum buying, heightened concerns about debt problems in Europe, fears of inflation, and even an aftershock in earthquake- and tsunami-ravaged Japan contributed to gold�s top showing. Prices wobbled at times, however, as some investors feared an imminent selloff after the two record-breaking sessions.

Gold for June delivery added 80 cents, less than 0.1%, to settle at $1,459.30 an ounce on the Comex division of the New York Mercantile Exchange. May silver added 16 cents, or 0.4%, to $39.55 an ounce. Silver has closed higher four sessions in a row. Silver and gold�s runs are the response to geopolitical and inflation fears, said George Gero, a vice president with RBC Wealth Management. The European Central Bank�s interest-rate increase earlier Thursday also served to highlight the �inflation threat,� he said in emailed comments. See full story.