Gold and silver futures reversed earlier gains during midday trade in Europe today, amid growing tensions in Ukraine and downbeat data in the Eurozone. Meanwhile, copper futures slid after below-par Chinese factory gauges.
Gold futures for December delivery on the Comex in New York traded at $1 288.2 per troy ounce, up 0.06%, at 13:04 GMT. Prices ranged from $1 285.8 to $1 290.9 per troy ounce. The precious metal added ~0.5% last week.
Silver for September delivery stood for a 0.02% daily increase at $19.495 per troy ounce.
Meanwhile, palladium futures reached the highest price in 13 years today, with the December contract climbing as high as $913.00 per troy ounce, amid fears that the Moscow-Kiev conflict will hurt Russian exports, which are 40% of the total.
Tensions in embattled eastern Ukraine flared up last week, after the Russian military was seen directly helping the pro-Russian rebels with manpower and hardware, pushing the Ukrainian army on the defensive.
This post was published at TruthinGold on September 1, 2014.
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