(Bloomberg) -- Gold gained for a second day in
London on speculation higher oil costs will revive demand for
the metal as a hedge against inflation. Silver also rose.
Crude oil is near a nine-month high and central banks in
Sweden, Switzerland and the U.K. have raised interest rates this
year to control escalating prices. Bullion climbed to a record
$850 an ounce in 1980 after a jump in the cost of oil.
Read more at Bloomberg Commodities News
London on speculation higher oil costs will revive demand for
the metal as a hedge against inflation. Silver also rose.
Crude oil is near a nine-month high and central banks in
Sweden, Switzerland and the U.K. have raised interest rates this
year to control escalating prices. Bullion climbed to a record
$850 an ounce in 1980 after a jump in the cost of oil.
Read more at Bloomberg Commodities News
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