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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Putin lights fire under gold price

Posted on 04 March 2014

The gold price soared 2.5% on Monday on the back of safe haven buying as Russian President Vladimir Putin’s adventurism in Ukraine caused a diplomatic scramble in the West. On the Comex division of the New York Mercantile Exchange, gold futures for April delivery – the most active contract – last traded at $1,351.80 an ounce, up $30.20 from Friday’s close.
In brisk trading the metal hit a high of $1,355 earlier in the day, the best level since September and up 13% since the start of the year. While investors were scrambling for hard assets and crude oil, stock markets sold off around the world, with triple digit losses for US blue chips and European investors running for cover. The ruble tumbled and Moscow stocks plummeted………………………………………..Full Article: Source


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