21 February 2011
Precious Metals Jump Further in First Hour of London Trading
Geopolitical worries boost precious metals in early trading
Gold was up over $11, and Silver up over $0.90 per ounce in the first hour of London trading on monday morning. The moves appear largley driven by the contagion of trouble in the Middle East, with Libya currently in the spotlight. Trouble in other parts of the region also continued with even the first Formula 1 Grand Prix of the season in Bahrain under threat of cancellation. Oil prices were also boosted. Market watchers will be interested to see when and if Gold gives back any gains as events unfold.