Gold extends gains silver hits 31 year high
Gold remained marginally up in Asian trade Thursday, fuelled by continuing unrest in the Mena region while silver hit another record.
Spot gold was seen trading at $1439.14 an ounce at 2.00 p.m Singapore time and US gold futures for April delivery was at $1438.14 an ounce on the comex division of Nymex.
Analysts said the precious yellow metal is likely to extend gains, despite slight advancement of the Dollar Index, as investors remained concerned about the Middle East and North Africa and Japan.
However they said gold may face some pressure as the euro faced pressure on heightened worries on euro zone's debt crisis.
Meanwhile, silver hit another record as cash silver prices was seen trading at $37.44 an ounce, highest in 31 years.
On Wednesday, gold hit another record as a rally for crude reinforced fears of inflation and investors remained concerned about the Middle East and North Africa and Japan.
Gold futures settled at a record high on Wednesday Gold for April delivery rose $10.40, or 0.7%, to $1,438 an ounce on the Comex division of the New York Mercantile Exchange. Bullion assets held in exchange-traded products stood at 2,029.789 tons.
Gold soared 30 percent in 2010 as investors sought to preserve their wealth against geopolitical risk and rising inflation.
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