(Bloomberg) -- Gold in New York rose, erasing early
losses, as rising energy prices boosted the appeal of the
precious metal as a hedge against inflation. Silver also gained.
Crude oil rose today above $66 a barrel to its highest
price in three weeks as refineries stepped up production of
gasoline to meet summer demand. Some investors buy gold to
preserve purchasing power in times of accelerating inflation.
Read more at Bloomberg Commodities News
losses, as rising energy prices boosted the appeal of the
precious metal as a hedge against inflation. Silver also gained.
Crude oil rose today above $66 a barrel to its highest
price in three weeks as refineries stepped up production of
gasoline to meet summer demand. Some investors buy gold to
preserve purchasing power in times of accelerating inflation.
Read more at Bloomberg Commodities News
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