Gold Above $1300 on Uncertainty in Ukraine

Palladium and platinum largely held gains from a three-day rally on Thursday as rising labor tensions in major producer South Africa threatened to further impact supply.

Gold held on to overnight gains that pushed it above the key $1,300-an-ounce level, supported by geopolitical uncertainty in Ukraine and technical buying.

South Africa’s longest and costliest strike ever, has taken a violent turn in recent days, with four platinum miners killed as more employees try to report for work at the world’s top producers, defying union orders to continue with a strike.

CNBC

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