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Gold Heads for Longest Rally in Six Months on Libyan Turmoil
Feb. 23, 2011 11:01AM PST
Precious MetalsBloomberg reports that as tensions rise in Libya and the Middle East, demand for an investment haven sees gold heading for the longest rally in six months.
Bloomberg reports that as tensions rise in Libya and the Middle East, demand for an investment haven sees gold heading for the longest rally in six months.
Gold “will continue to be boosted by geopolitical factors, inflation threats, and from a return of investment,” Tom Pawlicki, an analyst in Chicago at MF Global Holdings Ltd., said today in a report.
Gold futures for April delivery rose $8, or 0.6 percent, to $1,409.10 an ounce at 10:19 a.m. on the Comex in New York. Before today, the price climbed 26 percent in the past 12 months.
