PRECIOUS METAL WRAP: Gold will climb to a record by yearend as the global economy slows from the weight of too much debt. Gold, which had advanced for 11 successive years, is almost unchanged so far in 2012. Itís 18 percent lower than the record $1,923.70 an ounce traded on Sept. 6 in New York after investors favored buying the dollar amid Europeís escalating debt crisis.
Globally, silver fell by 1.94% to USD 26.91 an ounce in New York yesterday.
Market analysts said apart from sluggish demand in the spot market, weakness in overseas markets also put pressure on the silver futures prices.
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