Gold Above $1293 on Escalating Violence in Ukraine

Platinum and palladium retained on Wednesday sharp gains made overnight on worries that increasing labor tensions in major producer South Africa could hurt supply, while gold edged up on escalating violence in Ukraine.

Spot gold rose 0.2 percent to $1,295.00 an ounce by 0019 GMT. The metal is often seen as a safe-haven investment at times of political uncertainty.

Pro-Russian separatists ambushed Ukrainian troops on Tuesday, killing seven in the heaviest loss of life for government forces in a single clash since Kiev sent soldiers to put down a rebellion in the country’s east.

CNBC

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