Silver Investing News » Gold, silver climb on demand for hedge against energy costs

Gold, silver climb on demand for hedge against energy costs

July 28, 2008 @ 11:13 am In Silver Market News

Bloomberg.com reports silver rose as higher energy costs & dollar weakening boosted demand for the metals.

Silver futures for September delivery rose 8.5 cents, or 0.5 percent, to $17.46 an ounce. The metal dropped 4.5 percent last week.

Frank McGhee ^[1], the head dealer at Integrated Brokerage Services LLC in Chicago says:

"The news in Nigeria boosting oil, and the weaker dollar, is adding some support for gold."

For complete story, click this link. ^[2] Follow developments in silver mining and exploration for free. Sign on to the Silver Investing Newsletter ^[3].

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URL to article: http://silverinvestingnews.com/183/gold-silver-climb-on-demand-for-hedge-against-energy-costs.html

URLs in this post:

[1] Frank McGhee: http://search.bloomberg.com/search?q=Frank+McGhee&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1

[2] link.: http://www.bloomberg.com/apps/news?pid=20601012&sid=acXdlQBV4.WE&refer=commodities

[3] Silver Investing Newsletter: http://silverinvestingnews.com/investing-newsletter