14
March
Gold Advances for a Second Day on Turmoil in Libya, Japanese Earthquake
14 March 2011 Bloomberg.com
Gold advanced for a second day as investors sought shelter from the aftermath of Japan’s strongest earthquake on record and intensifying violence in Libya. Platinum and palladium fell on concern that demand may drop after the quake forced some carmakers to halt output.
Immediate-delivery gold climbed as much as 1.1 percent to $1,432.68 an ounce before trading at $1,427.22 at 3:27 p.m. in Singapore. The metal advanced to an all-time high of $1,444.95 on March 7. The April-delivery contract in New York gained 0.2 percent to $1,424.60 an ounce.
