(Bloomberg) -- Gold and silver prices climbed in
New York on speculation higher energy costs will boost demand
for precious metals as hedges against inflation.
Gold sometimes moves in tandem with crude oil, which
climbed above $67 a barrel after a government report showed U.S.
refineries cut operating rates and Iran said it will continue
developing nuclear energy. Some investors buy gold to hedge
against accelerating consumer prices. Before today, gold had
climbed 2.3 percent this year, while oil gained 8.5 percent.
Read more at Bloomberg Commodities News
New York on speculation higher energy costs will boost demand
for precious metals as hedges against inflation.
Gold sometimes moves in tandem with crude oil, which
climbed above $67 a barrel after a government report showed U.S.
refineries cut operating rates and Iran said it will continue
developing nuclear energy. Some investors buy gold to hedge
against accelerating consumer prices. Before today, gold had
climbed 2.3 percent this year, while oil gained 8.5 percent.
Read more at Bloomberg Commodities News
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