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Yahoo! Finance: SI=F News
Gold on Tuesday extended its blistering rally towards an all-time high as investors made a beeline for the traditional safe haven on mounting fears about the Ukraine crisis and the impact of a possible ban on Russian oil by the United States and Britain. “The combination of roaring energy prices, grain prices, base metal prices is culminated in dramatic inflationary pressures that continue to be the major underlying support behind gold moves higher,” said David Meger, director of metals trading at High Ridge Futures. “In addition, we’re seeing significant amount of safe-haven bids in the gold market as equity markets have come under pressure due to major concerns on the geopolitical front.”
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