Precious metals futures returned surging in value Tuesday morning as anti-government protestors in Libya met violent resistance from forces loyal to embattled leader Muammar Qaddafi, Dow Jones Newswires reports.
"It's to be expected with all the action going on in the Middle East," Ira Epstein, director of the Ira Epstein division of the Linn Group, told the publication.
Immediately after protestors took to the streets for 18-straight days and forced Egypt's autocratic president Hosni Mubarak from office after 32 years of rule earlier this month, demonstrations targeting the 42-year rule of Qadaffi in neighboring Libya began. The leader's security forces discharged weaponry on protestors in Tripoli, the North African nation's capital. Prior to successful protests in Egypt, demonstrators pushed out the leader of Algeria in January.
"On this rally, dollar for dollar, you had a bigger bang on the silver not the gold," Epstein said. "The gold market should be the leader not the follower."
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