Silver prices, on the other hand, remained in record territory, settling 4 cents higher at $29.77. The poorer cousin of the yellow metal reached a 30-year high on Monday as ongoing European debt-contagion fears and Bernanke's talk about a possible third round of quantitative easing brought out the sparkle in gold's cheaper alternative. According to BullionVault's head of research Adrian Ash, investors are increasingly going beyond gold to help diversify their portfolios. Savant says that silver's safe-haven appeal is helping support high prices but that its fabrication uses are propelling their momentum. "
Gold mining stocks, a risky but potentially potentially profitable way to buy gold, were slipping as investors took profits. Kinross Gold ( KGC) was down by 1.93% to $18.83 while Randgold Resources ( GG) was losing 1.04% to $92.48. New Gold ( NGD) was shedding 2.56% to $9.88 after shares were downgraded to market perform from outperform at BMO Capital. Gold Fields ( GFI) was trading flat at $18.11 after the stock was upgraded to overweight from neutral at HSBC.
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