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Gold Gains on Speculation European Debt Crisis May Spread Beyond Ireland
Nov-29-2010--Gold climbed for a second day, heading for a fourth monthly gain, on speculation that Ireland's bailout failed to stem Europe's debt crisis and Portugal and Spain may need aid, boosting demand for the metal as a haven.
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Bullion for immediate delivery rose as much as 0.2 percent to $1,369.40 an ounce and traded at $1,369.20 at 8:49 p.m. in Singapore even as the dollar climbed. Gold, which ended October at $1,359.40 an ounce, touched a record $1,424.60 on Nov. 9. The February-delivery contract rose 0.2 percent to $1,370.10 an ounce on the Comex in New York.
Germany watches with resignation as euro falls despite Ireland bailout EU Bailout Fund Delays Pain
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