Gold targets second weekly gain
Duncan Richardson, News Editor
11 Apr 2014, 10:05 a.m.
The gold price this week has been boosted by the ongoing political unrest in the Ukraine and the Fed’s decision to keep interest rates at record lows.
The Ukraine government decided to send security forces to the east of the country after pro-Russian protestors began occupying administrative building. Gold was also lifted by the Fed’s intention to keep interest rates on hold.
Bullion for immediate delivery traded at $1,320.14 per ounce during Asian trading.
Assets held in the world’s largest exchange traded fund, the SPDR Gold Trust, fell yesterday to 806.22 metric tonnes, the lowest level since March 7th.
Silver increased 0.1% to $20.062 per ounce, palladium fell 0.2% to $789.50 per ounce and platinum climbed 0.1% to $1,457.50 per ounce.