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NY gold hits $600 an oz early, silver scales $12
 NEW YORK (Reuters) - Gold futures in New York shot to a 25-year high atop $600 an ounce Thursday morning, while silver climbed a 22-year peak at $12 an ounce a down dollar and rising oil prices fueled buying by investors and speculators. By 8:35 a.m. EDT, gold for June delivery on the New York Mercantile Exchange's COMEX division edged back to $598.50 for a gain of $6. It traded from $592 to $601.90 which marked the loftiest level for futures since January 1981. COMEX May silver was up 25.5 cents at $11.96 after rising as high as $12.08 in the early going.It's hard to believe this is based on inflationary expectations, so who is buying and what do they expect? Posted by: Nimble Spemble 2006-04-06 |
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