Gold May Climb to Record for Second Day as Silver Trades Near 31-Year High

25 March 2011


Gold, which reached a record yesterday, may climb in London as fighting in Libya, debt concerns in Europe and a nuclear crisis in Japan spur demand for an alternative investment. Silver was near a 31-year high.

The coalition against Muammar Qaddafi is striking Libyan government forces that continue to attack civilians in some coastal cities. Japan’s nuclear regulator said one reactor core at the damaged Fukushima Dai-Ichi power plant may be cracked and leaking radiation. Concern that Portugal may need a bailout yesterday helped push gold to a record $1,447.82 an ounce.