23
March
Gold steady on Middle East crisis
23 March 2011 Reuters
Gold prices steadied on Wednesday, as escalating unrest in the Middle East and North Africa underpinned safe-haven demand, but a modest rebound in the dollar could weigh on the sentiment as fears on Japan's nuclear crisis eased.
The troubles in the Middle East turned increasingly violent with Syrian troops opening fire on protesters and Yemen's president warning that the country would slip into civil war if he was forced to quit.
"Gold is still taking its cue from the situation in the Middle East," said Ong Yi Ling, an analyst at Phillip Futures, adding that it could increase safe-haven flows into the precious metal.
http://www.reuters.com/article/2011/03/23/us-markets-precious-idUSTRE72C3Z120110323
