Gold and Silver Price Update-Metals Continue Advances As Europe Crisis Deepens

Gold and silver bullion started rising again, after declining a bit this morning as investors tried to make use of the inflated price of the precious metals. Gold futures increased by 0.09 percent to USD $ 1524.60 an ounce. Silver futures rose by 1.02 percent to USD $ 36.495 an ounce.

The precious metals have been spurred on this recent surge of price hike due to concerns over Europe’s debt crisis. The total amount of 256 billion Euros which has been given as stimulus to Greece, Portugal and Ireland has failed to prevent a possible default from these countries, with Greece posing the greatest threat of defaulting. In such a climate of uncertainty, gold and silver have emerged as strong choices as safe-havens, hence boosting their demand and ultimately their price.