Gold Rises as Libya Unrest Boosts Haven Demand; Silver Tops $35
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Gold rose as mounting tensions in Libya boosted the appeal of the precious metal as an investment haven. Silver toped $35 an ounce, extending a rally to the highest in 31 years.
Libyan opposition leaders rejected a mediation offer by Venezuelan President Hugo Chavez as armed rebels fought for control of crude-oil ports on the central and eastern coastal strip. Gold climbed for the sixth straight week, the longest rally since September 2007. On March 2, the metal reached a record of $1,441 an ounce.