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Gold prices rise following world events

Release Date: 
Tuesday, November 23, 2010

International tumult is pushing up the price of gold.

Gold has moved higher as investors seek a safe haven asset following concerns of growing sovereign debt concerns in Europe and armed conflict on the Korean peninsula. "People are shedding risk and going to flight-to-quality assets like gold," Matthew Zeman, a metal trader at LaSalle Futures Group in Chicago, told Bloomberg.

After declining slightly more than three percent during the past two weeks, gold gained 0.4 percent on Monday. "People are putting money back into metals in a reinvestment wave," Frank McGhee, the head dealer at Integrated Brokerage Services in Chicago, told Bloomberg.

This news article is independently provided by Brafton and does not represent the views or opinions of Goldline International, Inc. Although the information in this news alert has been obtained from sources believed to be reliable, Goldline does not guarĀ­antee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

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†This material has been prepared for private use. Although the information in this commentary has been obtained from sources believed to be reliable, Goldline does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

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