Gold at Six Month High above $1370

Gold was trading near its highest level in six months on Thursday as investors sought to hedge their bets against geopolitical tensions in Ukraine and economic slowdown fears in China.

Spot gold was trading flat at $1,365.10 an ounce by 0017 GMT, after jumping 1.3 percent on Wednesday. The metal reached $1,370.60 in the previous session – its highest since Sept. 19.

The EU agreed on a framework on Wednesday for its first sanctions on Russia since the Cold War, a stronger response to the Ukraine crisis than many expected and a mark of solidarity with Washington in the drive to make Moscow pay for seizing Crimea.

Bloomberg

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