Gold falls below $US1,300

By Dow Jones newswires

A US assessment team, which spent nearly 24 hours on Mount Sinjar where tens of thousands of people had been trapped without adequate food or water, concluded that a large number of members of Iraq's Yazidi religious minority already had managed to escape. "You've had a general easing of the geopolitical stress in the last 24 hours," said Frank McGhee, head precious metals dealer with Integrated Brokerage Services in Chicago.

Some investors buy gold on the belief that it will keep its value better during periods of political and economic upheaval. "A lot of people were prepared for those trucks to be the Trojan Horse for Russia," he said, referring to speculation that Moscow was using the convoy to transport weapons for pro-Russian militants. "Instead, you're seeing signs of de-escalation," Mr Klopfenstein said.

Read more here: Business Spectator


You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>