Fx N' Gold

Gold extended its strong gains yesterday touching $997.40/oz the highest point since Feb 24. Following up on the previous day's rally the investors bought the precious metal as an alternative currency pushing the price close to the psychological important $1000 level. Increasing concerns about a double dip recession have boosted flight to quality buying in silver as well. The white metal has outpaced gold in percentage terms given that it's considered cheap relative to gold. In addition the price swings in silver are sometimes bigger due to its smaller market.

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