Gold and silver gained after reports that Iran produced its first nuclear fuel rod, spurring investors to buy the precious metal as a haven.
Gold for immediate delivery advanced 0.2 per cent to $US1566.27 an ounce in New York. Silver was 0.1 per cent higher at $US27.8625 an ounce. Gold rose 10 per cent last year, the 11th straight annual gain, and silver dropped 9.9 per cent.
A domestically made rod was inserted into the core of Tehran's atomic research reactor after performance tests, the Iranian Students News Agency reported today, citing the country's atomic energy agency. The Tehran reactor produces radioisotopes for cancer treatment, according to Mehr news agency. Nuclear fuel rods contain pellets of enriched uranium that provide fuel for nuclear power plants.
Monday, January 2, 2012
Gold, silver gain after Iran nuclear reports
via smh.com.au
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