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Gold Firms As Ukraine Teeters On The Brink
Posted April 14th, 2014

TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - Gold and silver prices edged higher on Monday with gold climbing to $1,327.30 an ounce and silver advancing to $20.02 an ounce, as European Central Bank (ECB) policymakers signal the likely further injection of stimulus into the euro zone economy, should the single currency continue its rise. “A strengthening of the exchange rate requires further monetary stimulus." said ECB president, Mario Draghi, at a Saturday news conference.
 
"That is an important dimension for our price stability.” The rising currency, now at $1.39, is up from $1.22 in July 2012, and it's putting downward pressure on the euro region's consumer price inflation (CPI), which is currently near 0.50 percent, but far below the central bank’s 2.00 percent target.

Some believe that a fall in the euro would carry with it an element of distress, which is bullish for gold. Now that the Fed clarified its stance on interest rate increases after its quantitative easing (QE) program has ended, investors are returning to the yellow metal. “Gold has rallied since the start of April as the Fed minutes (from a mid-March meeting) suggested U.S. interest rates will stay lower for longer and tensions in the Ukraine prompted some investors to head to safe-haven assets,” said Morgan Stanley.

"The gains are a result of uncertainty over the situation in Ukraine, and warnings by NATO that Russia may invade Ukraine. That's now having an impact on the gold market," said Peter Fertig, of Quantitative Commodity Research. "There is a general risk in this conflict that things might get hotter."
 
The unrest has indeed gotten much hotter as pro-Russian separatists occupy government buildings in several Eastern Ukraine cities today, and are not only ignoring the Ukrainian governments' demands to vacate, but are calling on Russia to intervene. U.N. assistant secretary-general for political affairs, Oscar Fernandez-Tarancoset, in an urgent session of the U.N. Security Council held on Sunday said that Ukraine "teeters on the brink."
 
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