Summary Box: Gold races to new record highs as investors flee currencies over inflation fearsBy AP
Wednesday, October 6, 2010
Summary Box: Gold hits record on inflation fears
GOLD HITS RECORD: Gold for December delivery rose $7.40 to settle at $1,347.7 an ounce Wednesday, breaking the record it hit the day before when it settled at $1,340.30.
SILVER FOLLOWS: Silver prices also surged, with December silver rising 30.6 cents to $23.043 an ounce. The metal is increasingly seen as an inflation hedge like gold, rather than an industrial metal.
GRAINS FALL: Corn prices fell 2.5 cents to settle at $4.885 a bushel. Soybeans for November delivery fell 9.75 cents to $10.62 a bushel. Wheat for December delivery rose 5.25 cents to settle at $6.5825 a bushel.