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Friday, February 18, 2011

Gold prices were boosted Thursday from safe-haven demand due to fresh Middle East tensions that include civil unrest in Bahrain and Libya. Also, Iran has reportedly sent two war ships to the Mediterranean Sea, much to the chagrin of Israel. In the background also are ongoing worries regarding the European Union's sovereign debt situation. News reports Thursday said EU officials are pressuring Portugal to accept a financial bailout from the EU.

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