Gold Rises to Record $1,435.60 on Libya Unrest, Oil Rally

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Gold rose to a record of $1,435.60 an ounce in New York as unrest in Libya spurred demand for the metal as an investment haven.

Libya’s opposition gained support from the U.S. and European nations as Muammar Qaddafi sent forces to regain lost territory. Protests spread in the region, partly because food prices have soared. Crude oil in New York topped $100 a barrel today as Iranian protesters clashed with security forces in Tehran. Gold rose for the 10th time in 11 sessions.