The U.S.-led coalition of warplanes executed additional strikes against ground forces loyal to leader Muammar Gadhafi while prime minister Jose Socrates of Portugal submitted his resignation. The country on the Iberian Peninsula is believed to be on the precipice of seeking an international bailout of the sort administered last year to Greece and Ireland.
"The turmoil in the Middle East and North Africa region and ongoing efforts to stabilize reactors at the Fukushima power plant will continue to draw plenty of attention, as will the debt situation in the euro zone," according to a report by James Moore of TheBullionDesk.com in London. The report stated the precious metal is "poised to challenge the $1,450 an ounce area."
Just prior to 8:15 a.m. on Thursday, gold futures were up 0.06 percent, a 0.90 cent increase to $1,438.90 per troy ounce.
The precious metal's record high, set this past March 7, is $1,444.50 per troy ounce.
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