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Fri, May 24, 2002 - Page 21 News List

Gold soars on tensions


Gold soared to its highest price in more than 2-1/2 years on Wednesday as fund investors, concerned over rising tension on the India-Pakistan border, scrabbled for a sanctuary for their cash. Tension this week between the nuclear-armed neighbors, Middle East violence and US warnings that another terror attack against it was a near-certainty, have brought the precious metal's safe-haven qualities back into focus. "You've got to look at the political situation in Kashmir with India and Pakistan seemingly preparing for war. This is now the key driver pushing gold prices higher," said TheBullionDesk.com analyst Ross Norman.

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