Gold slips back from six month high
Duncan Richardson, News Editor
18 Mar 2014, 10:29 a.m.
Gold retreated yesterday after reaching a six month high as traders return to high-yielding assets and turn their focus to the Feds policy meeting which starts later today.
As it is widely expected that the Fed will taper its assets purchase program known as quantitative easing by a further $10 billion, the impact on gold should limited.
Gold dealer Ronald Leung believes sentiment is mixed at the moment, but stresses any political break down in the Ukraine could give gold a further boost.
The E.U and the U.S imposed sanctions on a number of Russian officials yesterday with many anticipating that further sanctions may be required to put further pressure on the Russians.
Any further escalation in the tension between the West and Russia should be positive for gold.