Looming election 'keeping Gold Prices high'

The upcoming general election is helping to keep Gold Prices around the record level mark, it has been suggested.

That is according to Gold Core, the international bullion dealers, which believes that the indications in polls that the upcoming election could herald a hung parliament are keeping pound prices high, reports the Daily Telegraph.

It said: "Gold remains near record nominal highs in sterling on growing evidence that next week's general election will produce a government without the parliamentary support needed to trim a large and growing budget deficit – the biggest among the Group of Seven nations."

Meanwhile, the Crucitas gold project in Costa Rica has been stalled by environmentalist groups which claim the mine development is damaging local flora and fauna, according to Reuters.

The delay in development could benefit Gold Price on a local scale as a result of reduced supply to the market.

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