22
February
Gold slips from 7-week high
22 February 2011 Reuters
Gold slipped on Tuesday after rising to its highest in seven weeks, but sentiment was still underpinned by deadly unrest in North Africa and the Middle East as well as uncertainty over the future of oil prices, while silver lost strength after a rally to its strongest level since 1980.
High oil prices sparked by violence in Libya fed fears of inflation, one of the main concerns of investors, who are otherwise in a generally bullish mood on expectations the global economic recovery is now sustainable. Libyan leader Muammar Gaddafi appeared on state television signaling his defiance and saying he had not fled a revolt against his 41-year rule.
http://www.reuters.com/article/2011/02/22/us-markets-precious-idUSTRE71G2KM20110222
