Gold Inches up on Ukraine Unease
Posted: Fri May 09, 2014 10:33 pm
Gold prices edged up in U.S. trading on Friday as Ukraine inched closer to civil war, which bolstered the yellow metal's safe-haven appeal. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery traded at 1,287.80 a troy ounce during U.S. trading, up 0.01%, up from a session low of $1,285.60 and off a high of $1,294.50. The June contract settled down 0.09% at $1,287.70 on Thursday. Futures were likely to find support at $1,285.60 a troy ounce, the earlier low, and resistance at $1,314.70, Wednesday's high. In Europe earlier, pro-Russia separatists in eastern Ukraine ignored a public call by Russian President Vladimir Putin to postpone a referendum on self-rule and said they plan to go ahead on Sunday with a vote that some fear could lead to a civil war.