Egypt’s turmoil causes surge in precious metal prices

Posted: February 2, 2011 in Egypt
Tags: , ,

Egyptian turmoil fuels precious metals

The Wall Street Journal describes how the political turmoil in Egypt is causing gold to “level off” after this years correction. Quoted from the article:

 

Protesters continued to rally in the streets for a fourth straight day against Egyptian President Hosni Mubarak, triggering worries that the unrest will spread to other Middle Eastern nations. Yemen and Tunisia have already been rocked with protests.

Gold is often considered a haven against political turmoil or economic downturns in part because it isn’t as linked to industrial production as are other assets, such as stocks.

“Egypt has got markets nervous,” said Sterling Smith, market analyst at Country Hedging in Minnesota. “That is naturally a good environment for gold.”

As political problems persist in 2011, gold and other precious metals will remain a safe haven for investors throughout the year.

A link to the original article can be found here

This material is for informational purposes only. Although it is obtained from sources believed to be reliable, Leland National Gold does not guarantee its accuracy, or being all-inclusive. Past performance is no guarantee of future results. There are risks in buying and selling physical metals. The potential for loss as well as gain increases by leveraging physical precious metals transactions. Never trade with more money than you can afford to lose, and always be sure to read the Risk Disclosure provided in your account documents.

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