Gold Holds Ground on Softer Dollar, Ukraine Tensions
May 7, 2014 2:32 PM EST
Gold Slips Ahead of U.S. Jobs Data; on Track for Third Weekly Loss
Spot gold was trading nearly flat at $1,308.21 an ounce by 0027 GMT, after slipping 0.2 percent on Tuesday. Before that, the metal had gained about 2 percent in as many sessions.
Tuesday was generally quieter than past days in most of eastern and southern Ukraine, but violence flared at dusk in the eastern port of Mariupol, where a spokesman for pro-Moscow militants told Russia's Itar-Tass news agency that one person was killed and three wounded in an attack on a checkpoint.
Both sides have been burying their dead as Ukraine slides further towards war, with supporters of Russia and of a united Ukraine accusing each other of tearing the country apart.
Periods of economic and political uncertainty generally tend to burnish gold's appeal as a safe-haven investment.
Physical demand in top buyer Asia and elsewhere has been weak due to the volatility in prices.
World no. 2 platinum producer Impala Platinum said that if a 15-week strike continued at its South African operations it would have to cut supply to clients to 40 percent of demand over the next three to four months.
Most Popular Slideshows
- 2014 MTV Video Music Awards: Full List Of Winners, Miley Cyrus ‘Wrecking Ball’ Bags Video Of The Year [PHOTOS]
- Kate Middleton’s Mom Accused Of Being A Social Climber, Prince George Not Seen By Relatives
- Kate Middleton First Official Solo Trip: Details For Malta Tour Revealed [PHOTOS]
- Manny Pacquiao Vs. Chris Algieri World Tour Kick Off Press Conference In Macau [PHOTOS]
Join the Conversation
- Worldwide Appetite for Gold Slumps 16% in 2Q 2014 – WGC
- 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
- Apple on iPhone 6 Release Date One Week After September 9 Despite Display Shortage Starting $800
- James Foley Video Had A Change Of Actor – Expert Points Out
- Why Moto X is Not the Best Smartphone to Purchase Now?
- Nexus 6 Release Date Will Intro Android 5.0 aka Lemon Meringue Pie with Killer Specs & Features
- Hundreds of Men Rape Teen for Three Years
- Samsung Galaxy S5 Mini vs. LG G3 S (aka LG G3 Beat, LG G3 Mini) – Specs, Features And Price Showdown
- European Central Bank Advises Action to Boost Demand and Employment In EU