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Gold, Silver Rise on Mounting Demand for Haven Amid Portugal Debt Concern

Bloomberg

By Tony C. Dreibus and Pham-Duy Nguyen
Jan 11, 2011

Gold and silver futures rose for the second straight day on speculation that Europe’s
debt crisis is spreading, boosting demand for the precious metals as a store of value.
Palladium jumped the most in seven weeks.

Portuguese bond yields may be rising to levels that force the nation to follow Greece
and Ireland in requesting a bailout from the European Union and the International
Monetary Fund to avert default. Gold gained 30 percent in 2010 and reached a
record last month after the EU bailed out Greece and Ireland.

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