6:16 am - Thursday August 21, 2014

Gold touches a record high after oil prices deemed unstable

Asia Bizz: Gold prices around the world has touched a record high of $1,410 an ounce and the oil prices have deemed to be very unstable especially as well, after the Libya crisis. If the oil and gold prices keep soaring this way, the United States may be heading towards another inflation scenario very soon; but the bullion in the country gained strongly this week, keeping the country in safe heaven.

The situation in Libya today is completely disoriented and according to some French experts, the number of people who have died in the clashes may be around 2000. The simple reason the oil prices have gone up is because of the consistent unrest in the Middle East, especially the oil producing giants.

Commodity price rise, oil and gold price surge, these are all signs showing that inflation is just around the corner and this is where everything gets alarming. Investors in various markets are thinking of pulling out their assets as soon as possible, so as they can be sure enough about the inflation scare.

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