Ongoing crisis in the Ukraine could explode gold
Duncan Richardson, News Editor
25 Apr 2014, 10 a.m.
Precious metals advisor, George Gero, predicts on going conflict in the Ukraine could be a massive catalyst for higher precious metal prices.
"One of the largest suppliers of gold, and of course platinum, is Russia and if they're going to be involved in sanctions, and more problems with Ukraine, and deliveries are curtailed—and there is already a problem in South Africa between the miners of platinum, palladium and the mining companies—all of that could somehow explode on the upside and curtail deliveries, meaning higher prices."
Following Vladimir Putin’s warning to the Ukraine yesterday gold spiked in a matter of minutes.