Gold prices rise 2.4 pct in Q1 2011

The price of gold rose 2.4 percent in the first quarter of 2011, to reach USD 1,439 per ounce at the end of last month, due to global geopolitical events and inflation, a report was quoted as saying on Thursday. The quarterly report released by the World Gold Council on its official website, that these prices have risen after geopolitical events the world witnessed, in the Middle East, North Africa and Japan. The report also highlighted inflation as another fundamental reason behind this increase - this his in turn has led to the prices of energy and food, and investors looking to anti-inflation goods such as gold.