Gold looks like it could be off to a bullish end to the week.
Articles Tagged "russia"
For over 3,000 years, the most reliable asset for wealth protection has been physical gold and silver bullion.
Gold rose 0.4 percent or $5.26 to $1,313.99 per ounce on Tuesday as investors found reason to doubt the process of global economic growth, according to Reuters.
This morning, gold fell $6.36, hitting $1,359.98 an ounce, as investors exercised caution prior to the US Federal Reserve's upcoming meeting.
Early in trading today, gold hit a six-month high of $1,391.76 an ounce before settling at $1,380.05. US gold futures also hit a high earlier this morning, later sinking to $1,378.80 an ounce.
Gold rose 1.3 percent or $17.77 to $1,366.90 on Wednesday, according to Reuters.
This morning, as tensions in Ukraine receded, gold fell 1.3 percent, or $17.34, to $1,333.50 an ounce. Meanwhile, US gold futures for April delivery were down $16.70 an ounce, to $1,333.50.
This morning, gold gained more than 1 percent, or $17.85, to trade at $1,343.64 an ounce. Meanwhile, gold futures for April delivery rose 1.73 percent, or $22.90, to hit $1,344.50 per ounce.
The Wall Street Journal reported that in January, Russia increased its output of gold, palladium and platinum by a respective 7.3, 4 and 40 percent.
Reuters reported that in 2014, Russian gold production is likely to sink by 5 percent. The country's production of the yellow metal rose to a record level of 254 tonnes in 2013.