Gold futures climbed within inches of their $1,610.70 all-time record high on Friday after the U.S. Senate rejected a plan by the House of Representatives that would raise the debt ceiling.
COMEX gold futures, per the August contract, hit an intra-day high of $1,607.70, before settling with a gain of $14.50, or 0.9%, at $1,601.50 per ounce. On a closing basis, COMEX gold futures reached a record high of $1,602.40 this past Monday.
Silver futures, per the September COMEX contract, rallied alongside the price of gold. Silver hit an intra-day high of $40.40, and remained higher by $1.20, or 3.0%, at $40.14 per ounce this afternoon.
Other commodities posted gains as well, with crude oil briefly topping $100 per barrel, before settling up $0.74 at $99.87 per barrel on the NYMEX. Copper posted a more modest gain, of $0.03, or 0.6%, at $4.41 per pound.
source link:http://www.goldalert.com/2011/07/gold-futures-climb-within-inches-of-record-high
