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As Libya moves towards civil war, silver and gold move higher and higher

Posted on 08 March 2011

From Mineweb.co.za: It seems that any talk of a peace deal in Libya was, to say the least, premature and fighting appears to be escalating. If matters continue the way they are it seems likely that Libyan oil supplies will be cut off completely, and some oil installations, damaged or destroyed in the fighting, may end up being offline for some time.
So far, although the oil price has indeed risen, the Saudi Arabian promise to turn on the taps and meet any shortfalls, has mitigated this. But, even with this promise there has to be enough nervousness about possible further Middle Eastern and North African unrest to keep the pot boiling for now……………………………………….Full Article: Source

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VRS - who has written 36685 posts on Opalesque Commodities Briefing.


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