3
March
Gold Trades Near Record on Demand for Haven Amid Turmoil in Middle East
3 March 2011 Bloomberg.com
Gold may decline in London as the Arab League’s announcement that it’s studying ways to end the crisis in Libya prompts some investors to sell the metal following its rally to a record.
Gold reached a record $1,440.32 an ounce yesterday. An Arab League official said the group has consulted with Venezuela on the plan. Libya’s Muammar Qaddafi and Venezuelan President Hugo Chavez have discussed resolving the crisis, the Associated Press reported. Bullion gained the previous four days.
