Gold rose this week as global violence escalated from the Mumbai bombings to the Middle East, where tensions intensified between Lebanon and Israel. On Friday, oil prices reached new highs and gold climbed over $660 an ounce. Gold remains the currency of choice during periods of politcal instability.
Gold exchange traded funds were top performers this week. streetTRACKS Gold (GLD) and iShares COMEX Gold Trust (IAU) were up around 5% for the week.
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