“The support for prices is largely attributable to persistent global uncertainty in the form of the ongoing conflict in Libya, a renewed focus on the European sovereign debt situation and a stronger oil price that has stoked fears over global inflation,” Standard Bank precious metals analyst Marc Ground said, Dow Jones Newswires reported.
SPDR Gold Shares (NYSEArca: GLD) was trading at a new 52-week high Tuesday.
In miner stocks, Market Vectors Gold Miners ETF (NYSEArca: GDX) jumped more than 4%.
For full disclosure, Tom Lydon’s clients own SLV and GLD.
