(Bloomberg) -- Gold rose in London on speculation
higher prices may revive demand for the metal as a hedge against
inflation. Silver also gained.
Central banks in Sweden, Switzerland and the U.K. have raised
interest rates this year to control escalating prices. The Bank of
Canada may join the list tomorrow, raising rates for the first time
since May 2006. Gold climbed to a record $850 an ounce in 1980,
partly because a jump in oil prices spurred hedge demand.
Read more at Bloomberg Commodities News
higher prices may revive demand for the metal as a hedge against
inflation. Silver also gained.
Central banks in Sweden, Switzerland and the U.K. have raised
interest rates this year to control escalating prices. The Bank of
Canada may join the list tomorrow, raising rates for the first time
since May 2006. Gold climbed to a record $850 an ounce in 1980,
partly because a jump in oil prices spurred hedge demand.
Read more at Bloomberg Commodities News
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