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) Gold War
A day earlier, gold fell to a two-and-a-half month low of $1,261.90 amid confusion over whether
Ukraine and Russia had reached a ceasefire agreement in eastern Ukraine.
Ukraine's President Petro Poroshenko said he had agreed on a "permanent ceasefire" in eastern
Ukraine with Russian President Vladimir Putin.
However, a spokesman for President Putin subsequently said he had not agreed to a ceasefire as
Russia was not party to the conflict.
Gold futures closed near a three-week low on Monday, tracking a steep decline in crude prices
as an Israeli-Hezbollah cease-fire came into effect and the British government downgraded its
terror threat.
Obama said it was too early to tell what the announcements Wednesday from Ukraine and
Russia meant. He noted previous unsuccessful cease-fire attempts and questioned whether
the separatists would abide by a new cease-fire.
We havent seen a lot of follow-up on so-called announced cease-fires, Obama said.
Many analysts believe the gold price will climb as investors turn to it as a safe-haven in times of geo-political crisis
The worsening crisis in Ukraine sees the price of commodities such as wheat and crude oil rising, but
there has been a corresponding decrease in the value of gold. The announcement of the ceasefire sent
the price of gold down slightly, only to rise again after the Kremlin denied any deal on a cease fire in
Ukraine.
Read more: http://www.digitaljournal.com/business/business/gold-prices-rise-with-news-of-ukraineceasefire/article/401148#ixzz3COKLC62I
2.) Employment
The next likely indicator of gold values will be U.S. nonfarm payroll data. This data is key to
judging the U.S. economys standing. If the payroll data is strong, the Federal Reserve is
expected to continue easing its monetary stimulus program. Scaling back this program has
caused a drop in gold prices in the past.
Read more: http://www.digitaljournal.com/business/business/gold-prices-rise-with-news-ofukraine-ceasefire/article/401148#ixzz3COKeJJxz
3) Low supply of old