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Gold Approaches Three-Month High as Ukraine Tension Lifts Havens

  • Bullion extends increases after Friday’s 1.8% price gain
  • Gold’s gains may be limited if Fed acts aggressively: analyst
Updated on

Gold advanced to the highest price since mid-November amid renewed investor demand as geopolitical tensions persist over Ukraine.

Russian President Vladimir Putin countered U.S. warnings that Russia may invade Ukraine within days by staging televised meetings with his foreign and defense ministers that emphasized de-escalation of tensions and continued efforts to find a diplomatic resolution to the security crisis. As recently as Sunday, U.S. officials were warning that a Russian invasion of Ukraine may be imminent, though Moscow dismissed that as “hysteria.” Russia has repeatedly denied it plans to invade Ukraine.