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Gold prices to strike records ‘above $1,600 this year’

LONDON – Record-breaking gold will likely surge past $1,600 per ounce for the first time later this year, driven by fears over high inflation and low global interest rates, consultancy GFMS forecast Wednesday. “We would not be surprised … to see gold break through $1,600 before the end of the…

Oil prices hit multi-year highs amid Libya unrest

NEW YORK — Oil sold in New York crossed the symbolic $100 a barrel level Wednesday, hitting prices not seen since 2008, amid fears over supplies from Libya. As traders panicked that political chaos could spread further in the Middle East, the main US contract reached $100 a barrel for…

US gives Egypt $150 mln to help with transition

WASHINGTON — The United States gave Egypt $150 million in crucial economic assistance on Thursday to help the key US ally transition towards democracy following the overthrow of longtime president Hosni Mubarak. “I am pleased to announce today that we will be reprogramming $150 million for Egypt to put ourselves…

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