Gold Rises as Protests in Arab World Spurs Safe-Haven Demand
BonTradeGold price surged yesterday amid resurgence of safe-haven demand as anti-government protests in Iran have killed 2 people and concerns over sovereign crisis in the Eurozone were again under the spotlight. The benchmark contract for Comex gold rose to a 1-month high of 1377.5 before closing at 1374.4, up +0.66%. Oil prices plunged as US retail sales and housing data disappointed. The front-month contract for WTI crude oil weakened for a 9th consecutive day to 11-week low of 83.85 before settling at 84.32, down -0.58%. API's report of unexpected crude inventory draw helped contain the decline, though.
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Gold Rises as Protests in Arab World Spurs Safe-Haven Demand
