Gold climbed to a record in New York on concern that Europe’s debt crisis will spread. Silver prices surged the most since March 2009.
Ireland joined Portugal and Greece yesterday as the third euro-area nation to have its credit rating cut to below investment grade.
The dollar fell against a six-currency basket on signs that the Federal Reserve will continue to use monetary stimulus to revive the U.S. economy. Investors have boosted holdings of exchange-traded products backed by precious metals to more than $125 billion.
![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silverw.gif)
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
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