Reports of intensified fighting in Libya propelled oil past $118 a barrel in Europe and to nearly $107 in the U.S., the highest levels since September 2008, with concern growing that the disruption in Libya's crude-oil production could last longer than initially expected.

Another day of rising oil prices meant falling stock prices. In a roller-coaster session, the Dow Jones industrial average on Monday closed down 79.85 points, or 0.7%, to 12,090.03. The Standard & Poor's 500 was off 0.8%, and the Nasdaq composite fell 1.4%....

Reporting from Los Angeles and Washington——

The powerful earthquake and tsunami that slammed northern Japan knocked out car plants and steel mills, stranded thousands in offices and at Disney's resort in Tokyo, and pummeled financial markets in Asia and Europe. But the biggest effect on the world economy may yet come in further roiling oil prices that already have cast a pall on the global recovery. That's because the 8.9-magnitude temblor forced the shutdown of a number of Japan's oil refining facilities as well as some of its nuclear power plants. The loss of substantial refining capacity in the world's third-largest economy is likely to inject more volatility into gasoline prices — raising the risk of even higher pump prices for American motorists….

(Source: Pittsburgh Post-Gazette) By Tim Grant, Pittsburgh Post-Gazette

March 25--Gold prices keep setting new record highs -- they did so again Thursday at $1,447 an ounce -- and investors are becoming cautious about investing in precious metals that have been gaining value for more than a decade.

But despite an 11-year winning streak for both gold and silver, advocates make the case that the limited supplies of metals vs. the almost unlimited supply of traditional currency make them worthwhile investments despite the lofty prices....

“All that glisters is not gold,” but could it be silver?

The popular if often altered saying is from William Shakespeare’s “The Merchant of Venice”. “Gilded tombs do worms enfold,” Shakespeare warned. These days silver prices are whizzing upward even faster than gold, which makes the commodity seem like an investment no-brainer….

The luster of gold has been catching the eye of humans for millenniums, but it shines even brighter when the world around it gets messy - as it is right now.

Gold set a record last week when it topped $1,500 an ounce, a price boost analysts say has been driven by a weaker dollar, low interest rates and uncertainty stemming from government debt and political turmoil in the United States and abroad…..

Gold bullion and mining ETFs regained their luster Wednesday as the greenback weakened. That occurred amid signs of progress in Washington to reduce the deficit and raise the debt ceiling.

SPDR Gold Shares ( GLD ) — the largest physically backed gold ETF — rose 0.9% to 156.02 in average volume. One share represents roughly a tenth of an ounce of the yellow metal.

Market Vectors Gold Miners ( GDX )rose 1.1% to 60.35….

The stock-market roller coaster has been wild enough to make even the most stoic, stiff-necked investors queasy. After falling in 10 out of the last 11 trading sessions, the stock market plunged more than 500 points Thursday, making it the worst day for the Dow since Oct. 22, 2008, the day that marked the beginning of the global financial crisis. On Thursday, the index lost 4.3% -- erasing all the gains for the year -- to end at 11,384….

Investors on Monday largely ignored the fundamentals of various commodities and instead focused on the downgrade of U.S. credit as a reason for sending oil and grain prices down while pushing up the price of gold. The price of crude oil futures dropped to about $81 per barrel, the lowest since November, on fears that the credit downgrade could lead to recession in the U.S. and lower demand for oil….

On Tuesday, the day gold prices soared to a new record, Bob Dumont strode into a former bank building here, paid a precious metals dealer $9,100 and walked out with five shiny gold coins. After gold broke another record Wednesday, Dumont was back again, this time buying $3,600 more….

When it comes to turmoil in the global economy, the world's pain could prove Denver's gain.

Gold prices have soared in recent weeks, reflecting the precious metal's status as a hedge against financial turmoil….