Gold up for third day on softer dollar, geopolitical tension

  • Reuters, Singapore
  • |
  • Updated: Aug 28, 2014 14:39 IST

Gold rose for the third straight day on Thursday as the euro regained strength against the US dollar and tensions between Ukraine and Russia burnished the metal's safe haven appeal.

FUNDAMENTALS

* Gold added $1.46 an ounce to $1,283.91 by 0026 GMT, moving away from a two-month low of $1,273.06 hit on Aug. 21.

* US gold was at $1,285.00 an ounce, up $1.60.

* Ukraine accused Russia of launching a new military incursion across its eastern border on Wednesday, as hopes quickly faded that Tuesday's talks between their two presidents might mark a turning point in a five-month-old crisis.

* The European Central Bank is unlikely to take new policy action next week unless August inflation figures, due on Friday, show the eurozone sinking significantly towards deflation, ECB sources said.

* The United States is intensifying its push to build an international campaign against Islamic State jihadist fighters in Iraq and Syria, including recruiting partners for potential joint military action, Obama administration officials said on Wednesday.

 

also read

Now, Foxconn looks to set up payments bank

blog comments powered by Disqus