| War spikes gold Original Source Link: (May no longer be active) http://www.forbes.com/markets/newswire/2003/01/16/rtr849778.htmlhttp://www.forbes.com/markets/newswire/2003/01/16/rtr849778.html
Gold surges to new highs after Iraq find Reuters, 01.16.03, 1:28 PM ET
NEW YORK, Jan 16 (Reuters) - Gold stormed to its highest in almost six years on Thursday in New York, as jitters about another Gulf War mounted after the United Nations said it found empty chemical warheads in Iraq.
Gold was already on its way up before the news hit shortly after midday. At 1317 EST benchmark COMEX February gold was up $7 at $358.10 an ounce, topping at $359, the highest for benchmark gold since February 1997.
Spot gold jumped to $358.40, its highest since March 1997 and was last quoted at $357.20/8.40, up from $350.60/1.10 at New York's close on Wednesday.
Earlier on Thursday, Chief U.N. arms inspector Hans Blix said he would tell Iraq the situation was "very tense and very dangerous" and only fuller cooperation with his inspection teams could avert war.
Copyright 2003, Reuters News Service
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