By Paul A. Ebeling, Jnr. | January 3, 2012 3:15 AM EST
LiveTradingNews
Gold and Silver rise on safe haven demand
Gold and Silver gained after reports over the weekend that Iran produced its 1st nuclear fuel rod, causing investors to buy the precious metal as a safe haven.
Gold for immediate delivery advanced 0.2% to 1,566.27 oz, and Silver was + 0.1% at 27.8625 oz.
Gold rose 10% last year, the 11th straight annual gainer, and Silver fell 9.9% on the year..
Gold reserves increased in November in Belarus, Turkey, Tajikistan, Macedonia, Mauritius and Morocco, and declined in Mexico, according to data on the International Monetary Fund's website.
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