Policymakers Address Issue on Oil-Induced Inflation. Oil and Gold Prices Rise

Oil prices recover for a second day as the situation in Libya and potential contagions of the tensions to other countries remained worrisome to many investors. Policymakers around the world addressed the issue about rising inflationary pressure as recent rally oil prices have driven concerns that global economic growth will be tempered. The front-month contract for WTI crude oil approaches 100 again while the Brent contract trades around 114. Gold and silver remain firm as geopolitical tensions spur demand for safe-haven assets. Heightened inflationary pressures also benefit gold if central banks fail to adopt appropriate measures.

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Policymakers Address Issue on Oil-Induced Inflation. Oil and Gold Prices Rise