5 May 2014
Gold given support by haven demand on Ukraine tensions
FXStreet (London) - Gold remains in bullish territory, climbing to a near three-week high on continuing tensions in the Ukraine.
Mounting unrest in the south Ukrainian city of Odessa resulted in more than 40 deaths following an attack on police headquarters on Friday.
Yesterday, it was reported that pro-Russian activists stormed the police station attempting to free several people held over the attack.
Gold is currently trading at USD1,312/oz after hitting a session high at USD1,316.40.
Gold hit a 2014 high of USD1,382/oz on 14 March, but has struggled to regain sustained bullish momentum despite some short-lived upside on Ukraine concerns.
Gold is up 8.23 percent on the year to date after losing 28 percent last year.
Mounting unrest in the south Ukrainian city of Odessa resulted in more than 40 deaths following an attack on police headquarters on Friday.
Yesterday, it was reported that pro-Russian activists stormed the police station attempting to free several people held over the attack.
Gold is currently trading at USD1,312/oz after hitting a session high at USD1,316.40.
Gold hit a 2014 high of USD1,382/oz on 14 March, but has struggled to regain sustained bullish momentum despite some short-lived upside on Ukraine concerns.
Gold is up 8.23 percent on the year to date after losing 28 percent last year.