Gold Rises, Silver Gains to 30-Year High as Unrest Spurs Demand
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Gold rose, silver gained to a 30-year high and palladium jumped to the highest price in almost 10 years on demand for precious metals to hedge against declines in other assets because of unrest in the Middle East.
At least five people have been killed since demonstrations against Bahrain’s ruling Al Khalifa family began on Feb. 14. Demonstrators in Libya yesterday demanded the government’s overthrow. Gold bar and coin demand in the Middle East jumped 39 percent in the fourth quarter from a year earlier, according to World Gold Council figures released yesterday.