Monday, April 14, 2014

Sparkling gold getting as "tantrum" Russian

NEW YORK - Global Gold rose to a three- weekly , as renewed concerns over the escalation in Ukraine encourage investors to add to positions in gold as a hedge asset .

Safe haven increased due to increased tensions between pro - Russian separatists and government forces of Ukraine . This occurred after the news that the Russian -made fighter aircraft flew low over the ship United States ( U.S. ) in the Black Sea over the weekend .

The precious metal also rose as U.S. equity rally with a higher index in the S & P 500 , which rebounded on strong earnings from U.S. bank Citigroup Inc , after a sharp sell-off last weekend in the stock market . In fact , gold usually moves inversely to stocks .
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" I think we need to have gold in an investment portfolio for safety now more than ever . Lot of people do not always believe the stock market today , " said a senior broker at RJ O'Brien , Phillip Streible , as reported by Reuters on Tuesday ( 15 / 4/2014 ) .

Spot gold rose types USD9 , 13, or 0.7 percent, to USD1.327 , 10 per troy ounce , after touching its highest level since March 24 at USD1.330 , 90 per troy ounce . While U.S. gold futures , Comex Gold for June delivery rose $ 8, 50 , or 0.6 percent, to USD1.327 , 60 per troy ounce . Trading volume was about 50 percent below the average 30 - day trading .

Among other precious metals , platinum rose 0.7 percent to USD1.460 , 40 , after earlier hitting its highest level in nearly a month in USD1.469 , 90 per troy ounce , due to labor strike continues in South Africa .


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