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
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
- Kendall Jenner Could Be Next Victoria's Secret Angel [PHOTOS]
- Pope Francis: World War III Has Started On Piecemeal
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
Join the Conversation
- Google Nexus 6 Release Date on Q4 2014 Confirmed by T-Mobile Featuring Wi-Fi Calling
- 2 Reasons Nexus 6 Release Date is Worth the Wait: Android L Data Encryption & Material Design
- Samsung Galaxy Note 4 vs. BlackBerry Passport — Specifications, Features, Release Date And Price Showdown
- 3 Signs Apple iPhone 6 Could be in Short Supply Following its Sept 19 Release Date
- Australia Actively Rallying Support For International Coalition Against ISIS
- iOS 8 Jailbreak Release Update: Pangu Devs Will Outrace Evad3rs in Rollout of iPhone 6, iPad Unlocker
- Micromax Canvas A1 Vs Spice Dream Uno Vs Karbonn Sparkle V: A Choice On Which Android Is The Best