February Sees Gold Up 6%, Silver Up 19% on Inflation and Escalating Geopolitical Risk

March 2, 2011

SeekingAlpha.com

The paper-driven sell off in the gold market seen in January has been trumped by continuing robust physical demand in January and February. This has resulted in gold rising nearly 6% in February and silver’s strong industrial and investment demand leading to a 19% rise to new nominal 30-year highs.

Gold in USD – 6-Month (Daily) and 150-Day Moving Average GoldCore
Gold in USD – 6-Month (Daily) and 150-Day Moving Average

click to enlarge

Political, and more importantly socioeconomic, revolutions in the Middle East and North Africa are leading to a degree of geopolitical instability and risk not seen in many years. This is leading to concerns about oil supplies from the region and hence the 14% jump in US crude oil just last week and deepening inflation concerns.

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