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12 Mar 2014
AU meeting resistance post on risk aversion
FXStreet (Guatemala) - Spot Gold has is flattening out at $1,349.00 after a European session that took the yellow metal higher for the second straight day on risk aversion due to the ongoing tensions between Russia and Ukraine.
Ukraine has commenced military drills while Russian forces are tightening their hold on the Crimean peninsula. Spot gold rallied from sub $1,338 and has drifted sideways into Asia. Meanwhile, the Fed announced a $10 billion reduction to bond buying at each of its past two meetings, leaving purchases at $65 billion. Fed Chair Janet Yellen said last month that the central bank probably will maintain its strategy of trimming stimulus.
Ukraine has commenced military drills while Russian forces are tightening their hold on the Crimean peninsula. Spot gold rallied from sub $1,338 and has drifted sideways into Asia. Meanwhile, the Fed announced a $10 billion reduction to bond buying at each of its past two meetings, leaving purchases at $65 billion. Fed Chair Janet Yellen said last month that the central bank probably will maintain its strategy of trimming stimulus.