Gold at Three-week High on Ukraine Tensions
April 14, 2014 2:06 PM EST
Gold Slips Ahead of U.S. Jobs Data; on Track for Third Weekly Loss
Spot gold rose to a three-week high of $1,328.30 an ounce before settling to trade up 0.6 percent at $1,325.50 by 0030 GMT.
Palladium scaled fresh three-year highs on fears that more U.S. sanctions on top producer Russia could affect supply of the metal.
The United States is prepared to step up sanctions against Moscow if pro-Russian military actions in eastern Ukraine continue, a senior U.S. envoy said. The next round of U.S. sanctions are expected to target Russian business sectors such as mining, banking and energy.
Platinum gained about 1 percent to its highest in nearly a month as labour strikes in South Africa continued.
Ukraine has given pro-Russian separatists a Monday morning deadline to disarm or face a "full-scale anti-terrorist operation" by its armed forces, raising the risk of a military confrontation with Moscow.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 1.80 tonnes to 804.42 tonnes on Friday.
Most Popular Slideshows
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- PageSix: Beyonce & Jay Z Union is Not About Love, All About Business & the Brand
- Kate Middleton & Prince William Taking a Time Off in August Amidst Miscarriage & Adopting a Child Claims
- Kate Middleton & Prince William Vacation Plans: Visit Prince Charles & Camilla Parker-Bowles
Join the Conversation
- Gold in China: 127-Tonne Gold Reserves Tapped in Xinjiang
- Global Markets Overview – July 15, 2014
- Honduran Gold Mine Caves in; 8 Rescued, 3 Remain Trapped (PHOTOS)
- Chinese Govt Tightens Control on Gold to Curb Imports, Could Drop 400T from 2013 – Report
- ANZ Seeks Role in Pilot Global Gold Trading Platform in Shanghai
- Apple iPhone 6 Release Date Update: 6 Most Wanted Feature Upgrades for Next iPhone
- Moto X Android 4.4.4 KitKat Update Guide: Schedule and How to Install
- Twin Malaysia Airlines MH370, MH17 Aviation Disasters Create Phobia Among Travellers
- HTC One M8 Windows Phone to Launch for Verizon; Release Date, Price, Five Fresh Features to Anticipate for New Smartphone
- OnePlus One vs. Moto X+1 – Early Specifications, Release Date and Price Faceoff
- Galaxy Note 4 Release Date Ahead of iPhone 6 Sept 2014 Debut; Specced-Up but Remains Plastic-Wrapped – Reports
- LG G2 Android 4.4.4 KitKat Guide: When to Hit Your Region and How to Install