Gold falls as tensions ease in Ukraine
Adam Pike, News Editor
4 Mar 2014, 10:50 a.m.
Gold has fallen from its recent four month high as tensions eased overnight in the Crimea peninsula.
Gold reached $1,354.87 per ounce yesterday its highest level since 30th of October as Russia and the Ukraine threatened each other over the war ships based in the strategic port of Sevastopol.
Gold eased back after Russian president Vladimir Putin ordered troops position in Western Russia back to their bases and Ukraine Prime Minister confirmed he wanted to find a diplomatic solution to the dispute.
U.S. consumer data released yesterday beat market expectations fuelling speculation that the Fed may continue with its tapering of quantitative easing. The Feds next meeting is scheduled for the 18th and 19th of March.