Gold advanced to the highest in more than four months as escalating tension between Russia and Ukraine boosted demand for a haven. Silver climbed.
Ukraine said Russia’s navy ordered two of its ships in Crimea to surrender amid the worst standoff between the West and Russia since the end of the Cold War. U.S. Secretary of State John Kerry is traveling to Kiev today and European Union foreign ministers discussed sanctions against Russia.
Prices rebounded 12 percent this year after the biggest slump in more than three decades in 2013 as unrest in Ukraine and signs of slower global economic growth boosted demand for a store of value. Bullion is the third-biggest gainer in 2014, after coffee and lean hogs, on the Standard & Poor’s GSCI Spot Index of 24 commodities.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015