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Tensions Between Ukraine & Russia Boost Gold

August 28, 2014 at 23:01 by Vladimir Vyun

Escalating tensions between Ukraine and Russia is the major theme that drives markets currently. The most noticeable result of this was the rally of gold. The precious metals maintained gains even as US economic data came out rather positive, the event that usually would have send prices lower.

Ukrainian officials claimed that about 1,000 Russian soldiers are operating in Eastern Ukraine, supporting rebels. Russia denied the accusations. Meanwhile, the United Nations hold an emergency meeting to discuss ways to resolve the crisis.

December futures for delivery of gold rose 0.03 percent as of 22:56 GMT on COMEX today after rallying 0.5 percent previously.

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