Gold for April delivery soared $20.90 to $1,353 an ounce at the Comex division of the New York Mercantile Exchange.
Rising oil and food prices are likely to have a significant impact on inflation outlook in 2011.
High global commodities prices are likely to have a significant impact on gold prices. The investors will by much more gold amid fears of inflation. As inflation fears rose to a record high in China, India and EU the price of metals, gold, oil , copper will rise.
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