21
February
Gold Gains on Middle East Unrest, Inflation; Silver Advances
21 February 2011 Business Week
Gold climbed to the highest price in almost seven weeks in London as unrest in the Middle East and concern inflation will quicken boosted demand for an alternative asset. Silver reached a 30-year high and palladium advanced.
Libyan leader Muammar Qaddafi’s son Saif al-Islam Qaddafi called on protesters to engage in dialogue or face a civil war that risks “hundreds of thousands of dead.” In the latest move to curb inflation, China’s central bank said Feb. 18 that it would raise reserve requirements for lenders from Feb. 24 after boosting interest rates earlier this month.
