Gold

The price of gold has hit a record high on concerns about unrest in the Middle East and contagion risk from Libya, while oil has topped the $116 a barrel mark.

A raft of fund managers are taking profits in gold ahead of interest rate rises, while others argue the asset still offers long-term upside.

Henderson's Bill McQuaker and Odey's James Hanbury have been slashing gold positions despite rising inflation.

Smith & Williamson's £45m Global Gold & Resources fund was among the best-performing funds of 2010 thanks to its exposure to smaller companies and the soaring gold price.

The London Stock Exchange is set to acquire the Toronto Stock Exchange in a £4.2bn deal, creating a major trading centre for mining shares.

"You have a choice between the natural stability of gold and the honesty and intelligence of the members of government. And with all due respect for those gentlemen, I advise you, as long as the capitalist system lasts, vote for gold." - George Bernard...

Not owning gold during the current financial turmoil is "a form of insanity", according to Cazenove's Robin Griffiths.

The FTSE edged 0.1% lower to 5,853.66 points in early trading as company-specific news guided price moves.

Hedge fund titan David Einhorn expects the price of gold to continue its strong surge as the US authorities retain irregular monetary and fiscal policies.

Gold will be one of the best performing asset classes of the next decade and could return as much as 8% a year over this period, Castlestone's Angus Murray says.