COMMENTARY: All of the metals are moving higher this morning. Gold spot price is up $2.60 – Silver spot price is up $0.57 – Platinum spot price is up $5.70 – Palladium spot price is up $3.00.
Rising oil prices are putting modest pressure on precious metals as tensions in the Middle East continue to spread. As investors scour the news of world events, they are seeing possible further disruptions in oil production as demonstrations for reform are spreading like wildfire throughout the region. As these demonstrations spread, oil production becomes more risky and thereby more costly. Oil prices are hovering at slightly over $100.00 per barrel.
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