Gold trades below four-month peak
March 5, 2014 8:37 amVideo
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Gold traded beneath the highest point in more than four months as upheaval between Ukraine and Russia alleviated, holding demand for wealth protection.
Bullion to be delivered immediately settle at $1,334.81 per ounce at 8:39 a.m. in Singapore, previously $1,334.34 yesterday, when prices dipped 1.2%, the highest since January 30. The metal increased to $1,354.87 on March 3, the most since October 30, as tension between the countries intensified.
Gold marshaled 11% this year, bouncing from the largest annual loss since 1981, even as the Federal Reserve cut down stimulus. SPDR Gold Trust shares, the largest exchange-traded product supported by bullion, were still the same yesterday on the fifth day, the longest movement assets have held steady in almost a year. In China, volumes for the benchmark spot contract in Shanghai dropped to a three-week low yesterday.
Gold to be delivered in April decreased 0.2% to $1,335.40 per ounce on the Comex in New York, prolonging yesterday’s 0.9% fall. Silver accrued 0.2% to $21.2119 per ounce after missing 1.2% yesterday. Platinum dived 0.4% to $1,458.38 per ounce, touching a two-day profit, while palladium was somewhat changed at $763.75 per ounce.
The material has been provided by InstaForex Company – www.instaforex.com
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