Gold held overnight gains to trade near its highest in over a week on Thursday as fears of Russian military action against Ukraine and heightened tensions between Moscow and the West burnished gold’s appeal as a safe-haven.
Spot gold rose 0.1 percent to $1,307.60 an ounce by 0021 GMT, after gaining 1.4 percent on Wednesday. The metal hit $1,309.60 in the previous session – its highest since July 29. U.S. gold was steady at $1,308.90 after rising 1.8 percent in the previous session.
Russia will ban all imports of food from the United States and all fruit and vegetables from Europe, the state news agency reported on Wednesday, a sweeping response to Western sanctions imposed over its support for rebels in Ukraine.
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