TANGIBLE INVESTMENTS - Los Angeles - by James O'Dell - Gold and Silver prices rallied on Thursday with Gold adding 0.55 percent to $1,290.00 an ounce, on bargain and short covering, while Silver advanced 0.51 percent to $19.58 an ounce, as growing international tensions flared once again after Ukraine accused Russia of an incursion by its military troops into the southeast of the country.
Claiming that columns of Russian soldiers equipped with tanks and personnel carriers had crossed into Ukraine in support of the separatists, Ukrainian President Poroshenko and his national security council ordered mandatory conscription into the armed forces.
“Columns of heavy artillery, huge loads of arms and regular Russian servicemen came to the territory of Ukraine from Russia through the uncontrolled border area,” said President Poroshenko to begin the emergency meeting of the Ukrainian National Security and Defense Council in Kiev, on Thursday.
Russia is also being accused of using criminals and other proxies to hit several U.S. banking institutions after at least one of the banks that was hit, has reportedly linked the breach to Russian state-sponsored hackers. The FBI is currently investigating whether the attacks were in retaliation for recent sanctions imposed by the West on Russia.
The U.S. and European sanctions have stirred the anger of Russian officials, who in April publicly criticized JPMorgan after it blocked a payment from a Russian embassy to the affiliate of a U.S.-sanctioned bank. Russia’s foreign ministry called the actions by JPMorgan both “illegal and absurd.” The bank was also widely criticized in Russian news reports.
“Russia has a policy of reactionary attacks in relation to political contexts,” said John Hultquist, a cyber-security specialist at iSight. “When it comes to countries outside their sphere of influence, those attacks would be more surreptitious.” Sales of physical Gold tend to trend higher when financial hacking is revealed, because you can't hack Gold.
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