Gold has risen to a 1-week high on bargain hunting driven by a firmer euro, while sterling-priced bullion struck another record as the British currency tumbled against the US dollar.
Silver, also used in photography and electronics, jumped to its strongest in almost a month to track gold and the price of copper, which surged on worries about supply after an 8,8-magnitude quake hit top producer Chile.
Spot gold hit an intraday high of $1119,50 an ounce and stood at $1117,00 by 0636 GMT, up 80 cents from New York’s notional close on Friday. Bullion was 7% below a lifetime high around $1200 hit in early December.
old, which gained 2% in February on economic uncertainties and signs that US interest rates would stay low in the near term, has yet to breach the 75-day moving average of around $1121 to sustain the uptrend.
Silver added 15 cents to $16,59 an ounce, having hit an intraday high of $16,68, its highest since early February on gains in copper, but low volumes meant the metal was prone
