Gold near one-week low as investors lean on Ukraine upheaval
March 19, 2014 9:05 am
Gold futures traded almost one-week low as investors anticipate the conclusion of the US Federal Reserve’s two-day policy meeting and evaluated the tension in Ukraine. Platinum surged up for the first time in four days.
Bullion to be delivered immediately settled at $1,356.62 per ounce at 12:30 p.m. in Singapore, previously $1,355.73, when prices dropped $1,350.88, the lowest since March 12. The metal slipped 2% in the last two days as hints of cooling hostility between Russia and Ukraine amplified equities and soften haven demand.
While Russian President Vladimir Putin said his country did not aim to divide Ukraine further, the US and Europe promised more sanctions for his objective to adjoin Crimea. Gold ascended 13% this year as disturbance in Ukraine and cues of sluggish economic growth escalated demand for haven assets. Prices retreated from the largest annual fall since 1981 even as the US central bank began to cut down asset purchases.
Gold to be delivered in April tumbled 0.2% to $1,356.20 per ounce on the Comex in New York, previously $1,359, when futures plunged 1%. SPDR Gold Trust holdings, the biggest bullion-supported exchange-traded product, were firm yesterday after declining 0.5% on March 17, the largest one-day contraction since February 19.
Silver to be delivered immediately was slightly changed at $20.8394 per ounce. Platinum rose 0.4% to $1,464.63 per ounce, halting a three-day dip, while palladium set at $768.33 per ounce, previously $768.04.
The material has been provided by InstaForex Company – www.instaforex.com
Gold futures traded almost one-week low as investors anticipate the conclusion of the US Federal Reserve’s two-day policy meeting and evaluated the tension in Ukraine. Platinum surged up for the first time in four days.
Bullion to be delivered immediately settled at $1,356.62 per ounce at 12:30 p.m. in Singapore, previously $1,355.73, when prices dropped $1,350.88, the lowest since March 12. The metal slipped 2% in the last two days as hints of cooling hostility between Russia and Ukraine amplified equities and soften haven demand.
While Russian President Vladimir Putin said his country did not aim to divide Ukraine further, the US and Europe promised more sanctions for his objective to adjoin Crimea. Gold ascended 13% this year as disturbance in Ukraine and cues of sluggish economic growth escalated demand for haven assets. Prices retreated from the largest annual fall since 1981 even as the US central bank began to cut down asset purchases.
Gold to be delivered in April tumbled 0.2% to $1,356.20 per ounce on the Comex in New York, previously $1,359, when futures plunged 1%. SPDR Gold Trust holdings, the biggest bullion-supported exchange-traded product, were firm yesterday after declining 0.5% on March 17, the largest one-day contraction since February 19.
Silver to be delivered immediately was slightly changed at $20.8394 per ounce. Platinum rose 0.4% to $1,464.63 per ounce, halting a three-day dip, while palladium set at $768.33 per ounce, previously $768.04.
The material has been provided by InstaForex Company – www.instaforex.com
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