Gold Investing 101
Gold Price Analysis -- Videos
U.S. stocks opened in the red Friday but quickly bounced back amid concerns about China's growth and heightened global tensions over Ukraine.
While the slowdown in China remains a factor for a boost to gold, Kitco.com's Jim Wyckoff says gold's safe haven appeal is currently adding the most support to its price.
Gold on Wednesday rose as much as $22 as the Ukraine crisis and concerns of a Chinese economic slowdown provide gold luster as a safe haven investment.
Low volumes, especially in options trading, suggest many traders are not too certain the crisis in Ukraine worsens, but not confident to bet against an unexpected clash.
Gold sold off double-digits on Friday but climbed above $1,340 on Monday. RJO Futures' Phil Streible says so long as Ukraine remains unstable, gold will find support.
Gold prices are slightly higher at around $1345 an ounce on Thursday as the situation in Ukraine has for now changed to more of a regional issue of lesser significance.
While some market watchers have been crying deflation, commodities such as gold, coffee and wheat have been creeping higher.
Gold is giving back most of yesterday's gains today as a result of easing tensions between Russia and the Ukraine, but the bias for gold is still to the upside.
Spot gold climbed 1.9% to $1,350.80 an ounce on Monday as tensions in Ukraine drive demand for safe assets.
Gold, crude and wheat move higher while stocks fall as Ukraine tensions are heightened. Russia has now given Ukraine an ultimatum: surrender by the end of the day.
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