Gold May Extend Record in Best Advance Since 1975 on Debt Woes
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Gold may rise for an 11th day after touching a record in the longest winning streak since at least 1975 as debt concerns in Europe and the U.S. spur demand for a protection of wealth.
Bullion held in exchange-traded products yesterday climbed 0.9 percent to 2,120.5 metric tons, the most ever, data compiled by Bloomberg show. European government leaders plan to gather in Brussels this week to break a deadlock over a new Greek rescue that has spooked investors. President Barack Obama vowed to veto a Republican proposal to impose mandatory budget cuts as U.S. officials struggle to reach agreement on how to avoid a default.