efd-services (LIVE CHAT) Gold was little changed on Wednesday as safe-haven buying cooled on easing fears of imminent military action by Russia in Ukraine, and as traders waited for U.S. data for clues on the strength of the economy. Bullion prices were also kept in check by higher equities, which recovered after Russian President Vladimir Putin said he would use force in Ukraine only as a last resort. Gold is seen as an alternative investment to risky assets such as stocks at times of economic and geopolitical uncertainty. Gold is currently very sensitive to geopolitical tensions.That is not necessarily a good sign as the money flow can change very quickly as and when there are developments in Ukraine, said Mark To, head of research at Hong Kongs Wing Fung Financial Group.Some kind of pullback is very possible given the price gains this year but in the short term it depends on the news flow.
Posted on: Wed, 05 Mar 2014 08:17:37 +0000
Trending Topics
Recently Viewed Topics
© 2015