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Gold, silver rise on Greece's debt concerns

May 24, 2011

(AP) Lingering concerns about Europe's debt problems are supporting gold and silver prices as investors look for relatively stable assets.

It was the third straight day of gains for gold, which settled at $1,523.30 an ounce Tuesday. Silver rose to $36.128 an ounce.

Investors are trying to determine if Greece's problems may affect the European economy and slow demand for commodities.

Greece is struggling to meet the terms of a $154 billion emergency loan package and may require more help. But the main opposition party is opposed to the government's austerity measures.

Other commodities rose after Goldman Sachs said it expects higher prices in the second half of the year.

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