Gold Inches Up on Rising Ukraine Confrontation

by Christopher Freeburn | March 10, 2014 4:34 pm

Gold Silver GLD IAU SLV[1]The growing divide between Russia and Western nations over the fate of Ukraine’s Crimea region sent gold higher in Monday trading. Russia hardened its stance in favor of Crimea’s session from Ukraine over the weekend, brushing off threatened U.S. and European sanctions. Pro- and anti-Russian demonstrators have faced off in Eastern Ukraine in recent days, adding to already elevated tensions.

Gold futures for April delivery rose 0.2% to $1,341.50 per ounce on Monday, according to CME Group[2]. Gold traded as high as $1,344.90 and as low as $1,327.50. Bullion closed in London at $1,339, according to BullionVault[3].

Silver futures for May delivery slipped nearly 2 cents to $20.91 per ounce. Monday’s high for silver was $21.06, while the low was $20.616.

Metal funds were mixed on Monday.

Mining ETFs declined during the day.

Gold stocks mostly sank on Monday.

Silver mining shares mostly retreated during the day.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault[23] contributed to this report.

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