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Gold Rises as Protests in Arab World Spurs Safe-Haven Demand
Feb. 16, 2011 01:20PM PST
Precious MetalsCommodities and Futures reports that gold prices rose yesterday as anti-government protests in the Middle East increased.
Commodities and Futures reports that gold prices rose yesterday as anti-government protests in the Middle East increased.
The market news is quoted as saying:
Protests in Egypt spread to other Arab countries such as Bahrain and Yemen, as well as Persian Iran. Geopolitical tensions traditionally push gold prices higher and this probably is a reason for the metal’s strength these 2 days. We believe, if the tensions persist and/or spread to other Middle East countries, oil prices will soar as the region holds most of the world’s oil reserve.
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