|
|
|
Investors Nervous As Violence Precedes Ukraine Elections
Posted May 22nd, 2014
TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - The gold price rose briefly to $1,303.00 an ounce on Thursday but settled closer to $1,295.00 an ounce, after the minutes of the April Federal Open Market Committee (FOMC) meeting, showed that the central bank has no intention of raising interest rates any time soon. Silver climbed to $19.51 an ounce while platinum rose to $1,493.90 an ounce, its highest since September and palladium hit $834.35 an ounce.
The dollar gained 0.2 percent against a basket of major currencies, but its effect was muted by the larger than expected jump in weekly jobless claims. "Gold was up after weaker U.S. jobless claims data ... the downside is also limited by nervousness ahead of the Ukrainian election," said VTB Capital's Andrey Kryuchenkov.
Ukraine's army has reportedly suffered its heaviest casualties since the start of the Ukraine conflict, on Thursday, when pro-Russian separatists ambushed 14 soldiers in the Donetsk region. Ukraine's Prime Minister, Arseniy Yatsenyuk, accused Russia of involvement in the attack and immediately called for an emergency session of the United Nations Security Council. The increase in violence comes as Ukraine prepares for presidential elections on Sunday.
“I think the next big development is probably going to be the Ukrainian presidential elections [on Sunday],” says Jim Wyckoff of Kitco. “Going into a long U.S. holiday weekend, I sure would not want to be short gold,” he added. Rebels in Donetsk staged a referendum on independence recently that was largely ignored and have vowed to prevent the election from going forward. The governor of Donetsk, Sergei Taruta, insists, however, that the elections will happen everywhere except in the rebel-held town of Slavyansk.
Russia has given the election its endorsement, calling it a "step in the right direction," and suggesting that the vote should be as nationwide and free as possible.
It's important to protect your hard earned wealth during these times of economic uncertainty, and at Tangible Investments (learn about us here), it doesn't matter whether you're new to precious metals or a seasoned veteran, you will always be dealing with top industry experts. Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.800.741.5014 today and let the helpful staff at Tangible Investments assist you in your next purchase or sale. Have you claimed your FREE COIN yet?
|
|
 |
History
