Gold and Silver Price Update – Inflation concerns advancing prices

Gold prices climbed to a record while silver prices gained for a ninth consecutive day, as inflation concerns made investors rush towards the precious metal commodities. Gold future was trading at USD $ 1474.20 an ounce, registering a change of 0.01 percent. Silver future was at USD $ 41.580, registering a huge increase of 2.39 percent.

Concerns about inflation were the major reasons causing investors to hedge their investments in gold and silver. With the Libyan crisis continuing and with the Japanese economy yet to become completely stabilized after the earthquake, gold and silver are expected to continue registering increases.