Gold futures are poised to continue rising on Thursday, extending gains on sovereign debt concerns in the euro zone and violence in Libya, Bloomberg reports.
The precious metal achieved an increase for the first quarter of 2011, notching record prices on at least three occasions.
The precious metal will perform "on the back of expectations that the military intervention in Libya will prove to be a prolonged affair, coupled with the renewed concerns over the sovereign debt problems in Europe, according to a report by Marc Elliott, a Fairfax IS analyst in London.
Immediately prior to 9 a.m., gold futures slipped 1.01 percent, a $14.50 decrease to $1,425.40 per troy ounce.
Gold futures increased in value 0.8 percent through the end of the first quarter, marking the 11th straight quarter the precious metal has grown in value. Its record price is $1,447.82, notched on March 24.
The defection of Moussa Koussa, former foreign minister for Libya, is viewed as an indication of a weakening regime while state forces re-capturing cities demonstrates the rebels' frailty.
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