Gold powers to new NY high, silver up on ETF launch

Newswire

NEW YORK, April 28 (Reuters) - Gold futures in New York shot to a 25-year high above $650 on Friday morning, buoyed by a falling dollar and a pop in silver triggered by the launch of the first silver-backed security, dealers said. Gold jumped 1.6 percent and silver surged 4 percent by midmorning as players built positions in the precious metals ahead of the weekend. Higher oil prices and tensions over Iran's nuclear capabilities also fueled the advance. "There's active buying interest, ...

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