Gold Creeps Higher

LONDON-The spot price of gold rose, but industry participants said the market still lacks a major catalyst to drive a significant event.
The crude oil futures, a peak which has supported the gold prices in recent weeks by concerns over inflation of fuel, were also stable before data weekly U.S. oil inventory that due to the end of the day.
Before the day of New York, spot gold rose $ 5.80, or 0.4%, to $ 1434.60 per troy ounce, leaving little more than $ 10 of the record $ 1,445.05 hit on March 7.
Investors continued to eye developments in Japan, where he continued working to avoid a nuclear disaster, and the Middle East, where Allied air attacks on Libya also continued. But analysts said the situation will be scaled to provide any real support more than the price of gold.
Any decline in the price of gold, however, will likely be seen as a good business opportunity, hunting, traders said.
The Swiss bank UBS remained optimistic about the yellow metal, and said that the crossing of the mean of five days of gold is moving over 10 days and an average of 20 days, "confirms our positive outlook."
Other precious metals also were higher. Spot silver rose 27 cents, or 0.7%, to $ 36.65 an ounce, spot platinum was $ 12, or 0.7%, above $ 1,745 an ounce and spot palladium rose 6 dollars, or 0.8%, to $ 740 an ounce.

(Source: http://online.wsj.com/article/SB10001424052748704050204576218254072652200.html)