Gold rose on Friday, rebounding from the previous session’s drop to a one-month low, as heightened tensions between Russia and the West over Ukraine prompted speculators to buy back their bearish bets ahead of the weekend.
For the week, however, bullion is still set for a one-percent drop, its second consecutive decline, as encouraging recent U.S. economic indicators lessened the metal’s safe-haven appeal.
Gold prices climbed as Russia said on Friday the United States was trying to influence international opinion through unfounded insinuations and anti-Russian rhetoric over the crisis in Ukraine, while the Pentagon said the transfer of rocket systems from Russia to Ukrainian separatists appeared to be imminent.
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