Investing.com - Gold prices eased slightly in Asia on Wednesday,
as tension between Russia and the Ukraine appeared to have tamped
On the Comex division of the New York Mercantile Exchange, gold
futures for April delivery traded at $1,333.50, down 0.33% a troy
ounce. Overnight the contract hit a session low of $1,331.50 and a
high of $1,352.80.
Russian President Putin said earlier that Moscow reserved the right
to use force in Ukraine's Crimea region in the event of
"lawlessness" but added that such a move would be a last resort,
which sparked a wave of relief across markets and enticed investors
out of safe-haven gold positions.
Elsewhere, Russia's defense minister ordered troops engaged in
military exercises close to Ukraine's borders to return to their
Still, Russian forces continue to maintain military presence in
Crimea, which capped gold's losses.
Concerns that the standoff may result in sanctions slapped on
Russia and hamper global economic recovery also supported the
yellow metal, especially on fears the rouble could suffer.
Meanwhile, silver for May delivery was down 0.19% and trading at
US$21.182 a troy ounce, while copper futures for May delivery were
flat at US$3.211 a pound.
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