Gold prices slid Tuesday on expectations that a dispute between Russia and Western countries will ease. The actively traded April contract for gold fell $13.90, or 1 percent, to settle at $1,359 an ounce. Russian President Vladimir Putin told the Russian Parliament not to believe speculation that Russia will look to take over other areas of Ukraine. On Sunday, a majority of voters in Ukraines region of Crimea voted to break from that country and join Russia. The dispute had helped push the price of gold up this month as traders shifted money out of other markets. The Ukraine situation hit gold today, said Edward Meir, a senior commodity consultant at INTL FCStone. Putin said hes not going to stir anything up, and gold fell on the back of those remarks.
Posted on: Wed, 19 Mar 2014 07:20:54 +0000
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