Metal crisis

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Metal crisis

Gold and silver was up and down in Asia, helped by a weaker dollar, higher equity markets and oil prices keep rising as action in Libya loomed.

Markets seemed less bothered to severe nuclear crisis at Japan’s Fukushima Daiichi nuclear plant, with hopes growing that a major leak of radioactivity may be avoided.

“There’s a feeling that by early next week this might be behind us,” said Darren Heathcote, head of trading at Investec in Sydney.

“As with any of these stock market selloffs in recent years, gold suffered through margin calls, but that has turned around and it is trading up with equities,” Heathcote said.

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