Precious metal futures kicked off Wednesday morning with slight slippage as anti-government protests continued in the Middle East and economic data demonstrated the economy in China is continuing its rapid growth, Bloomberg reports.
Demonstrators resumed gathering in Yemen for a sixth straight day to force the removal of Ali Abdullah Saleh, the nation's leader for the past 32 years. Protestors continued opposition to Muammar Qadaffi, Libya's leader since leading a military coup in 1969.
"Tensions in the Middle East will continue to be an issue," according to Tom Pawlicki, a Chicago-based MF Global analyst who wrote a report on Wednesday.
Just before 9 a.m. on Wednesday, gold futures slightly slipped 0.11 percent, a $1.50 cent drop to $1,372.6 per troy ounce. Silver futures slipped 0.20 percent, a 0.061 drop to $30.635 per troy ounce. April-delivery platinum dropped 0.60 to $1,831 per troy ounce and March-delivery palladium increased 0.60 cents to $840.50 per troy ounce.
Chinese government projections were surpassed for the fourth straight month in January, when consumer prices increased 4.9 percent.
Less than one week after 18 days of anti-government demonstrations in Egypt sacked the North African Arab nation's 30-year autocrat, the protests in Yemen and Libya also are calling for the removal of their nations' rulers.
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