Gold remains below $1,300 on easing Ukraine concerns
![](https://www.indiavision.com/wp-content/themes/biggestnews/front-page/images/transparent.gif)
SINGAPORE (Reuters) – Gold was trading below $1,300 an ounce on Thursday, steadying at weaker levels after a fall of more than 1 percent in the previous session, when its safe-haven appeal dimmed on signs of easing tensions in Ukraine.
Spot gold edged up 0.1 percent to $1,290.53 an ounce by 0022 GMT, after losing 1.4 percent on Wednesday. U.S. gold also stabilized after a similar drop overnight.
Russian President Vladimir Putin called on pro-Moscow separatists in Ukraine to postpone a vote on secession just five days before it was to be held, potentially pulling Ukraine back from the brink of violent dismemberment.
In what could be a breakthrough in the worst crisis between East and West since the Cold War, Putin also announced he was pulling Russian troops back from the Ukrainian border.
A slumping housing market and geopolitical tensions risk undermining the U.S. economy and bear close watching by the Federal Reserve, the central bank’s chief said in a testimony to Congress. Fed Chair Janet Yellen said the economy was still in need of lots of support given the “considerable slack” in the labour market.
Kinross Gold Corp reported a sharp drop in first-quarter net earnings due to weaker bullion prices but its production increased and costs edged lower.
Notice: Undefined variable: term_link in /var/www/vhosts/indiavision.com/httpdocs/wp-content/themes/biggestnews/front-page/templates/single-post-categories.php on line 9
Filed in Gold & Metals
Related posts
Deprecated: Function WP_Query was called with an argument that is deprecated since version 3.1.0!
caller_get_posts
is deprecated. Use ignore_sticky_posts
instead. in /var/www/vhosts/indiavision.com/httpdocs/wp-includes/functions.php on line 6085