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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 396.31

-0.6%

Dec 31 4:00 PM EST

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From: Condor	1/15/2008 6:20:29 AM
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RIYADH, Jan 15 (Reuters) - U.S. President George W. Bush complained in Saudi Arabia on Tuesday that soaring oil prices were threatening the U.S. economy, raising pressure on the world's top oil exporter to help ease prices. ...............Trying to counter Iran's growing military clout in the region, Bush made clear on Monday his commitment to go ahead with a major arms sale to Saudi Arabia. Just hours after his arrival in Riyadh, the U.S. administration said it notified Congress of its intention to offer the Saudis a package of advanced weaponry as part of a multibillion-dollar deal with Gulf Arab allies. The deal, covering 900 precision-guided bomb kits worth about $120 million, has raised concerns in Israel and its U.S. supporters about the military balance of power in the region. The sale is part of Bush's effort to persuade Saudi Arabia to help contain Iran, a strident U.S. foe. reuters.com

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