Precious Metals

International Business Times reports that since the outbreak of the anti-government unrest in Egypt, gold and USD have been moving in tandem indicating risk aversion in the market and investors desire for safe-haven assets.

International Business Times reports that since the outbreak of the anti-government unrest in Egypt, gold and USD have been moving in tandem indicating risk aversion in the market and investors desire for safe-haven assets.

The market news is quoted as saying:

Anti-government protests in the Middle East and North Africa have escalated. While oil prices have jumped amid worries over oil supply disruption, precious metals also strengthened. We noticed that short-covering in gold futures began 2 weeks ago. The same unwinding should happen in USD futures which have been sold down excessively.

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MARKETS

Markets
TSX20197.61+15.69
TSXV702.09-3.49
DOW31261.90+8.77
S&P 5003901.36+0.57
NASD11354.62-33.88
ASX7145.60+81.10

COMMODITIES

Commodities
Gold1848.05+1.65
Silver21.83+0.11
Copper4.32+0.04
Palladium1981.50+24.38
Platinum961.00+6.52
Oil109.72-0.56
Heating Oil3.620.00
Natural Gas8.09+0.01

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