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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Ukraine crisis testing gold’s safe-haven status

Posted on 06 May 2014

Continued liquidation in gold-backed exchange-traded funds amid signs of an improving U.S. economy may undermine gold’s recent safe-haven gains which helped bullion to three-week highs above $1,300 an ounce, CNBC’s weekly sentiment survey showed.
Still, gold bulls maintained that the markets were underestimating the risks of a worsening crisis in Ukraine. “I’m slightly bullish as I believe Ukraine is unpredictable,” said Edmund Moy, Chief Strategist at Morgan Gold and a former director of the U.S. Mint. He added that investors also fear a May correction in U.S. stock markets………………………………………..Full Article: Source


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