Gold Surges to Record on European, U.S. Debt Concerns, Currency Gyrations

Gold rose to a record in New York on speculation that the sovereign-debt crisis in Europe will worsen, boosting the appeal of the precious metal as an alternative to currencies. Silver touched a 31-year high. Gold reached an all-time high of $1,489.10 an ounce after Moody's cut Ireland's credit rating by two levels to the lowest investment grade, eroding the value of the euro. The dollar,while

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