Precious metals began March by gaining in value amidst intensifying uprisings in North Africa and the Middle East.
Muammar Gadhafi should be ousted from power, according to the U.S. and many European countries. But the strongman of 42 years shows no signs of exiting.
"The continued violence in the Middle East is bringing in new buyers and spurring gold to new territory," Frank McGhee, head dealer at Integrated Brokerage Services in Chicago, told Bloomberg. "The rush to economic health is fading. Crude above $100 is an energy tax that will force governments to put more money into the system. Our old fear of stagflation returns."
The momentum of increased unrest is rapidly spreading to many Middle East and North African nations. Protests that brought down the leader of Tunisia in January achieved the same in Egypt in February, when the anti-Gadhafi demonstrations began.
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