24
February
Gold Fluctuates as Libya Unrest Fans Demand, Some Investors Sell
24 February 2011 Bloomberg.com
Gold fluctuated amid speculation that a surge to a seven-week high was prompting some investors to sell, while heightened geopolitical tensions in the Middle East and North Africa boosted safe-haven demand.
Immediate-delivery bullion swung between a gain and a loss of 0.3 percent before trading little changed at $1,412.36 an ounce at 3:37 p.m. in Singapore. The metal touched $1,416.68 yesterday, the highest level since Jan. 4. The April-delivery contract fell 0.3 percent to $1,409.90 an ounce.
