Gold continues to climb amid Greek debt crisis
16 Feb 2010
Gold futures continued to climb on Tuesday in Asian trading hours, adding as much as $20 an ounce to Friday's levels in New York, as concerns related to debt in Greece and a weaker US dollar combined to lift the metal's investment appeal.
As investors awaited news from a Euro zone finance ministers' meet on measures to rescue debt-laden Greece, spot gold was seen trading at $1105.31 an ounce at on the Singapore exchange at 11.30 am, while April delivery was at $1107.32 an ounce at the same time in electronic trading in New York's Comex.
Silver for immediate delivery rose as much as 1.5 per cent to $15.78 an ounce before trading at $15.71. Platinum gained 0.7 per cent to $1,526.25 an ounce and palladium gained 1 per cent to $425 an ounce.
On Monday, spot gold was bid at $1,099.15 an ounce, against $1,092.40 late in New York on Friday.