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All Eyes On Ukraine

Gold remains supported by the growing tensions and possible civil war in the Ukraine. Kiev has warned the pro-Russian separatists that a full scale anti-terrorist operation would be launched if they did not disarm. This situation, which is viewed with “alarm” in North America, carries a far heavier psychological history for continental Europe. Gold held our $1,317 level Friday and is likely to test, and breach, the $1,325 level as the possibility of armed conflict becomes more likely. The PGMs are responding to real supply issues, with the strike in South Africa entering its third month. Worries that increased sanctions on Russia may also affect that countries supplies has pushed palladium firmly through the $800 level. PGMs are difficult to value from a technical perspective and have a history of running sharply when supply fundamentals are at risk.

By Peter Hug
Global Trading Director
Kitco Metals Inc.

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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