Forex: Ceasefire peace terms agreed by Gaddafi

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Muammar Gaddafi has agreed to some resolutions that could lead to an ending to the conflict in Libya. These include terms such as an immediate ceasefire. The above statement was issued by the African Union on Monday, however representative of the opposition stated that this would only happen if Gaddafi left power. Jacob Zuma, the President of South Africa, who has already met Gaddafi, has asked the forces of NATO to stop the air strikes on targets of the government in order for the ceasefire to start being in effect.

Previous peace offers from the Lybian leader have had no results with the Lybian rebels attacking some towns across the east and the west demanding nothing less than the end of Gaddafi’s ruling period, following his actions to crush protests in February. Ramtane Lamamra, AU Commissioner for Peace and Security, reported that some discussions tool places however due to the confidential nature of the issue no further information could be given. According to the British-based representative of the Libyan opposition, Guma al-Gamaty, the AU plan will be looked at but not agreement allowing Gaddafi and his sons in place will be accepted, while the Lybian officials have continuously repeated that the Lbyan leader will not resign. It is of great interest to see how this potential peace agreements and ceasefire will affect the price of oil and gold, which have been rising as a result of this turmoil, and the countries whose currency is heavily relied upon this two commodities.