Euro Debt Risks Fuel Demand for Gold

On May 27th according to Bloomber investors bought precious metals over concerns of Europe debt crisis sending gold near a one week high. The euro declined as gold bullion rose to $1,212.25 an ounce by 8:10 a.m. in Sydney. June delivery gold is up 3% for the week ending May 28th.

On May 26th platinum rose 0.3% to $1,520.50 an ounce while palladium rose another 0.7% to $442 an ounce.

Silver also increase 0.2% to $18.10 an ounce achieving a total of 2.3% over the last three days.