Gold rallies after Crimea Vote
Adam Pike, News Editor
7 Mar 2014, 10:58 a.m.
Gold closed 1% higher yesterday as tensions in the Ukraine persist. In the latest development the pro-Russian parliament in the Crimea called for a referendum within 10 days to decide if the region wants to be part of Russia.
The gold price has been heavily influenced by the events unfolding in the Ukraine and this latest development caused the spot price to jump by $8 to $1,345 per ounce.
Weaker than expected productivity figures out of the U.S. also gave gold a boost, with productivity falling by 0.7% in February. Gold traders will now be shifting their attention to the release of the latest U.S. nonfarm payroll data which will be released later this afternoon.
Silver also finished positive yesterday at $21.36 and platinum finished $7 higher at $1,482.