Gold climbs as investors consider the Ukraine and U.S Stimulus
Duncan Richardson, News Editor
11 Mar 2014, 10:11 a.m.
Gold rose yesterday as traders weighed the prospect of further U.S. tapering against increasing political tension in the Ukraine. Gold closed Asian trading at $1,342.63 per ounce following five consecutive weekly gains.
Even though the Federal Reserve has cut is stimulus program by $10 billion at each of its last two meeting gold has increased by 11% since the start of the year.
Mark To research analyst at Wing Fung Financial believes gold is stuck in a trading range with traders looking for further indications from the Fed or for new developments in the Ukraine.
Silver and platinum also finished positive, while palladium remained unchanged.