Gold retains 1.4% jump overnight as Russia retaliates with sanctions
Peter Walden, News Editor
7 Aug 2014, 9:54 a.m.
Gold held on to its gains made yesterday, trading close to its highest in over three weeks, as fears of Russian military action heightened as reports from NATO claimed that Russia had amassed large numbers of combat ready troops on Ukraine’s border. Moscow has also banned the import of agricultural goods from countries that imposed earlier sanctions against them, impacting all EU countries and the United States.
Gold rose yesterday despite the dollar hitting a nine-month high against the euro on indicators that the U.S. is recovering and the EU stumbles.
Gold is currently trading at £774.29 per ounce, silver at £11.889 per ounce and platinum at £871.04 per ounce.