Gold taps all time high, Crude Oil higher on Middle East chaos.
Gold hit an all-time high and Crude Oil rose higher after the US said it was moving military resources to the Mediterranean heightening fears of a full blown war in the Middle East.
The US said it was moving Marines and 2 Warships into the Mediterranean Tuesday night on growing International pressure on Muammer Gaddafi the Libyan leader, to stand aside.
Spot bullion rose 1.5% to a record 1,432.10 oz, surpassing the high of 1,430.95 oz hit in December.
ICE April Brent rose 3.2% to 115.56 bbl, the highest since Thursday that took the Global Crude Oil pricing benchmark to within pennies of 120 bbl.
Gold prices have risen 9.5% from a low of 1,308 oz in January, as investors have become increasingly jittery over escalating political chaos in the Middle East.
Silver has risen 30% from its January lows, Tuesday hitting a 30 yr high of 34.59 oz.-Paul A. Ebeling, Jnr. www.livetradingnews.com