Gold Futures Fall With Eased Tension in Ukraine
March 5, 2014 6:45 amVideo
Latest News
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
Investors who trade gold may want to keep an eye on the situation in Ukraine, as it is having an impact on the commodity. With tensions high in the Crimean peninsula, gold futures increased to a 17-week high, as investors sought a haven from other markets that could be negatively impacted by military action.
However, with Russian President Vladimir Putin’s recent comments saying that there is no immediate need to send troops to Ukraine, gold futures declined, as demand for the haven the commodity provides decreased, according to Bloomberg.
“The situation seems to have calmed down a bit, and that’s pushing gold lower,” Phil Streible, senior commodity broker at R.J. O’Brien & Associates in Chicago, told Bloomberg. “People will continue to monitor data out of the U.S. to gauge strength of the economy.”
Gold is coming off a poor year in 2013, as the price dropped 28 percent, which is the most since 1981. The cause of this steep decline was the record growth seen by U.S. equities. With that said, gold traders should be keeping a close eye on both Ukraine and the equities market moving forward.
Global stocks rebound as tensions ease
Gold wasn’t the only market impacted by Ukraine, as global stocks increased with fears of military action easing. According to CNN Money, markets across the world rebounded after Putin’s announcement. For example, Russia’s main stock index – the Micex – increased 6 percent following an 11 percent drop in the previous day and the Dax in Germany edged up 2 percent after a 3.4 percent decline.
“There has been a distinct change in the tone of the markets today as the Russian-Ukraine crisis stabilizes,” Kathleen Brooks, research director at FOREX.com, told CNN Money. “The latest headlines suggest that Putin has had a change of heart. Putin is still trying to save some face after this situation dramatically back-fired on him.”
One of the biggest reasons markets have been impacted is because the U.S. suspended trade and investment talks with Russia, which is just the first of many possible moves that could be made to keep Putin out of Ukraine. Investors need to keep a close eye on the tensions in Ukraine, as further action taken by the U.S. and other nations could impact stocks, gold and other commodities.
The post Gold Futures Fall With Eased Tension in Ukraine appeared first on | HY Markets Official blog.
Related Posts: