Gold Rises to 27-Year High on Record Oil Price; Silver Advances - JB News Feed

Gold gained to a 27-year high in London as rising prices for commodities such as crude oil spurred investors to increase their holdings of the metal.

The Reuters-Jeffries/CRB Index of 19 commodities yesterday closed at a 14-month high. Crude oil extended gains today to a record $87.13 a barrel. Investors have bought 2.7 million ounces of gold through exchange traded funds, or ETFs, in the past five weeks, half the increase for all of 2007, according to estimates by South Africa's Macquarie First South.

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Posted by Posted by Jewelry News at Tuesday, October 16, 2007 8:00 AM
Categories: gold, Precious Metals Prices, Silver
 

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