Gold, Silver Prices Today Rise to 30-Year High on Unrest in Middle East

Ongoing unrest in the middle east is causing investors to push up the price of gold and silver today, with silver reaching a 30-year high, and palladium also rising to its highest levels in 10 years.

Physical demand for gold in the middle east has been skyrocketing, increasing 39 percent in the fourth quarter, according to World Gold Council, as locals in the region see the potential for instability for some time ahead.

Gold for immediate delivery climbed $2.85, or 0.2 percent, to $1,386.95 an ounce by 8:50 AM in London. Gold futures for April delivery jumped $2.20, or 0.2 percent, to $1,387.30 an ounce on the Comex in New York.

Silver climbed as much as 0.6 percent to $31.9775 an ounce, the highest since March 7, 1980, and palladium rose 0.5 percent to $848.88 an ounce, the highest level since Feb. 28, 2001.