Summary Box: Safety appeal drives up silver, gold

AP News
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Posted: Mar 21, 2011 3:48 PM
Summary Box: Safety appeal drives up silver, gold

PRECIOUS METALS: Traders bought silver and gold for their appeal as relatively safe investments because of uncertainty about the stability of the Middle East and Japan's recovery from its earthquake disaster.

GLOBAL IMPACTS: Commodities have been volatile because anti-government clashes in Libya and other countries have raised concerns about oil supply disruptions. The other factor is how demand is being affected by Japan's reconstruction after a March 11 earthquake and tsunami and the ensuing nuclear crisis.

COPPER SLIPS: Copper retreated after China released final trade data for February that indicated total copper unit imports fell to the lowest level since August 2008.