Silver Prices Rise Sharply As Gold Hits Record Prices

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Record gold prices were hit Monday morning as persisting concerns over EU and U.S. debt continued to hang over world financial markets.  Spot gold traded as high as $1601.80 an ounce earlier this morning and was quoted at $1,599 Bid, $1,600 Ask around 10:20 a.m., having been set at $1,599 an ounce at the London p.m. fix.

Silver was trading above $40 an ounce for the first time since early May, quoted at $40.25 Bid, $40.35 Ask, having been set at $40.33 an ounce in London. Silver has gained more than 15% in the last two weeks.

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