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.
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