Gold prices increased due to anti government protest in Arab world

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Gold prices increased due to anti government protest in Arab world

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The gold prices in the international market have been increased again due to the ongoing anti government protests in Africa and the Arab world. Price of gold per ounce increased by 75US$ in the month of February.

01 March,2011 11:49 am

In January, a six percent decrease in gold prices was recorded but after the violent protest in Egypt, Libya and other gulf states, the gold prices in the international market increased as the demand increased. In February, the prices of gold increased by five and a half percent to US$1400 per ounce. According to experts, the increase in demand by China is one of the reasons for the increase in gold prices. Despite being the leading producer of gold in the previous year, China imported 300 tons of gold in the country.