18/2 Gold increases for a second straight day
Gold increases for a second straight day on speculation the recession will deepen, boosting the appeal of the precious metal as a haven asset. Silver also gained. Gold futures for April delivery climbed $2.10, or 0.2 percent, to $969.60 an ounce at 11:28 a.m. on the Comex division of the New York Mercantile Exchange. Gold gained 5.5 percent last year.
Silver futures for March delivery rose 17 cents, or 1.2%, to $14.18 an ounce. Silver jumped 24% this year through yesterday after dropping 24% in 2008.