Oil hit 2 1/2 year highs in afternoon trading and fueled concerns regarding inflation. Crude oil is putting pressure on the $110 dollar a barrel mark and some analysts are predicting $150 oil before the end of the year. The inflationary pressure has sent gold to new highs hitting $1,461.91 an ounce. Gold is considered a safe haven as global currencies face increasing pressure.
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Jim Sutliff