Gold and Silver Race to New Record Highs on Inflation

Gold and Silver Race to New Record Highs on Inflation

Gold climbed to a record and silver topped $41 an ounce, gaining for a ninth straight day in the best run since March 2008, as investors sought precious metals as hedges against accelerating inflation.

Immediate-delivery bullion gained as much as 0.2 percent to $1,478.18 an ounce and traded at $1,473.72 at 3:18 p.m. in Singapore. Gold for June in New York climbed as much as 0.3 percent to $1,478 an ounce, also an all-time high. Cash silver advanced as much as 2.5 percent to $41.9525 an ounce, the highest level since 1980, before trading at $41.5525 an ounce.

Source: Gold and Silver Race to New Record Highs on Inflation