Gold climbed for the third straight day on the New York Spot, rising over $15 as of 10:30 a.m PT. Today, the Group of Seven nations agreed to intervene jointly in the foreign-exchange market to try to halt the rapid appreciation of the yen, while the dollar headed for a weekly decline against a basket of six major currencies.
The Bank of Japan has been pouring cash into the financial system to stabilize money markets following last week’s earthquake. The Group of Seven news, combined with continued violence in the Middle East and inflation concerns in China, encouraged buyers to acquire gold as a traditional safe haven asset.
“People look at the moves in the currencies, and they want to buy gold as a safe haven,” said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. “Gold is an international currency and a stable currency at the moment.”
Between the representative of Supreme Religious Authority and preacher of Friday in Karbala, Sheikh Abdel Mahdi al-Karbalai in the second sermon of the Friday prayers in the courtyard-Husseini al-Sharif on 12 Rabi Al-Thani 1432 AH corresponding to 3/18/2011 Some Arab countries experiencing popular movements and broad expression of the legitimate demands of these peoples is to achieve political reform and social justice, which is very worrying is the governments of these countries to deal with violence and excessive force against their people, which led to the downfall of many of the victims.
