Posts Tagged ‘Revolution’

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

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