Bloomberg.com: Commodities

Bloomberg.com: Commodities: "Sept. 6 (Bloomberg) -- Gold rose to the highest in almost four months in London on signs credit-market turmoil is spurring traders to seek a haven in the precious metal. Silver gained. Investment in StreetTracks Gold Trust, the biggest exchange- traded fund backed by the metal, climbed 2.5 percent to a record 528.36 tons yesterday, figures from the London-based World Gold Council show. The European Central Bank today lent emergency cash to banks for the fifth time in a month, a day after the Bank of England injected funds to reduce the cost of credit. ``It seems the gold market is ready to go higher,'' said Gerry Schubert, a director of metals at Fortis Bank in London. ``The whole upset in the financial markets will ultimately lead to gold strengthening its status as a safe haven.'' Gold for immediate delivery gained $6.03, or 0.9 percent, to $687.58 an ounce as of 1:48 p.m. in London, after earlier today gaining to $688.93, the highest since May 8. Prices have climbed 8 percent this year."