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    Gold rises towards record price on US, Europe debt concerns

    Gold today rose toward a record set yesterday as concern that the US and Europe will struggle to contain their debt burdens spurs demand for the metal as a protection of wealth.

    July 28, 2011 / 20:55 IST

    Gold today rose toward a record set yesterday as concern that the US and Europe will struggle to contain their debt burdens spurs demand for the metal as a protection of wealth.

    Gold rose by USD 1.30, or 0.1%, to USD 1,618.60 an ounce on the Comex, after reaching a record USD 1,628.05 yesterday. However, silver fell by 0.9% to USD 40.22 an ounce after yesterday climbing to a 12-week high of USD 41.46.

    US lawmakers remained at odds on how to raise the country's debt limit in time to avoid a default. Standard and Poor

    first published: Jul 28, 2011 07:50 pm

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