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Commodities: Gold hits record high

Posted By admin On March 24, 2011 @ 4:53 am In Money Watch | Comments Disabled

Sharecast [1]
March 24, 2011

Turmoil in the Middle East drove strong gains for oil and gold on Wednesday as allied forces continue to enforce a no-fly zone in Libya.

Crude for May delivery, the new front-month contract, rose 78 cents to $105.75 a barrel on the New York Mercantile Exchange as investors continue to worry about a shortfall in supplies.

Meanwhile gold for April delivery rose $10.40 to a record $1,438 an ounce on the Comex division of the Nymex.

Demand for gold is being driven by continued unrest in the Middle East and North Africa, Japan’s crisis and fears about rising inflation.

The yellow metal is traditionally considered as one of the best hedges against inflation.

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Commodities: Gold hits record high  101210banner4 [3]

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[1] Sharecast: http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=4128984

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC35/PR

[4] US gold hits record high $1,081.70/oz on IMF sale: http://www.prisonplanet.com/us-gold-hits-record-high-1081-70oz-on-imf-sale.html

[5] PRECIOUS-Gold hits record high as dollar slides: http://www.prisonplanet.com/precious-gold-hits-record-high-as-dollar-slides.html

[6] Gold hits new record: http://www.prisonplanet.com/gold-hits-new-record.html

[7] Gold Hits Record High Above $1320: http://www.prisonplanet.com/gold-hits-record-high-above-1320.html

[8] Gold in record territory, pushes past $1,443: http://www.prisonplanet.com/gold-in-record-territory-pushes-past-1443.html

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