Gold Inches up as Ukraine Tensions Stoke Safe-haven Buying
April 21, 2014 2:11 PM EST
Gold Near Two-week High as Ukraine Tensions Boost Safe-haven Bids
Spot gold had gained 0.5 percent to $1,300.21 an ounce by 0026 GMT.
Trading volumes were thin as Hong Kong and London were closed on Monday for Easter.
At least three people were killed in a gunfight in the early hours of Sunday near a Ukrainian city controlled by pro-Russian separatists, shaking an already fragile international accord that was designed to avert a wider conflict.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 3.29 tonnes to 795.14 tonnes on Thursday.
Merger talks between Barrick Gold Corp and Newmont Mining Corp, the world's top two gold producers, broke down in the past few days, the Wall Street Journal reported, citing unnamed sources.
China has begun allowing gold imports through its capital Beijing, sources familiar with the matter said, in a move that would help keep purchases by the world's top bullion buyer discreet at a time when it might be boosting official reserves.
South African platinum producers made a new wage offer on Thursday in a bid to end a three-month strike at their mines that has hit 40 percent of global output of the industrial metal.
The dollar firmed in early Asian trading on Monday, though the tense situation in Ukraine was likely to keep traders on their toes, with some markets still closed for the Easter holiday. Japan's benchmark Nikkei average opened higher.
Most Popular Slideshows
- Gennady Golovkin Next Fight Options: Canelo Alvarez, Miguel Cotto Or Julio Cesar Chavez Jr.
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- Chilling: New ISIS Video Addresses Australia; Aussie Teen Delivers Message
- The Pirate Bay Blockade: Cost Of Blocking Websites Like TPB Is Ridiculously High
- Xiaomi Mi4 And MiPad Prices Likely Slashed, Thanks To Rivals Oppo, OnePlus And Meizu
- Virginia Woman Who Posted Naked Image Of Ex-BF’s New Partner 1st Person Charged Under Revenge Porn Law
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report
- Google Nexus 6 vs. iPhone 5S: 4 Important Things to Consider Before Switching to Android Lollipop