3
March
Gold, Near Record, May Gain on Libya Political Unrest, Inflation Concerns (GC in Bloomberg)
3 March 2011 Bloomberg.com
Gold rose to a record for the second straight day on mounting demand for an investment haven amid surging commodity prices and turmoil in Libya. Silver climbed to the highest since 1980.
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“Given the continuing strong fundamentals and the concerns of geopolitical instability spreading to Saudi Arabia and other autocratic oil-producing nations, gold and silver look set to challenge $1,500 and $40 in the coming weeks,” analysts at Goldcore Ltd. in Dublin said in an e-mail.
