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Summary There has been an increase in the price and demand of gold following protests in the Middle East.
After the air attacks in Libya and the anti-government protest erupting in the Middle Eastern countries, gold prices have increased in the international market.In the past week, price of gold has increased by US$ 89 per ounce in the international market. In the Asian market, gold is being traded at US$ 1,438 per ounce and the price of silver is also at a 31-year high.Experts say that the increase in gold price is due to the increased demand of gold by China as they bought 200 tonnes of gold in the first two months of 2011.
