Gold up as investors look for safe investments

In the metals markets, gold added $3.40 on Wednesday, to $630.30 per ounce on the New York Mercantile Exchange. The price increase, which comes on the heels of a gain of nearly $5 on Tuesday, comes as investors look for a safe place to put their money amid continuing tensions over Iran’s nuclear ambitions. The Iranian parliament passed a bill Wednesday that will allow the government there to reevaluate its cooperation with the International Atomic Energy Agency. The bill came after the UN voted last Saturday to put sanctions against Iran in place in an effort to try to persuade it to slow down or halt its enrichment of nuclear fuel. It is feared that Iran will limit the number of IAEA inspections it allows, which could lead to even more sanctions and a further increase in tensions.