Gold Rally Stalls as Traders Weigh Impact of Sanctions on Russia
- The metal rose to an eight-month high before slipping
- Biden said the U.S. will impose a first wave of sanctions
This article is for subscribers only.
Gold wavered as traders assessed the impact on haven demand of U.S. and European sanctions on Russia.
Bullion earlier Tuesday climbed to an eight-month high after Russian President Vladimir Putin announced he would recognize two self-proclaimed separatist republics in eastern Ukraine. The precious metal pared its advance as investors took stock of this month’s advance. Gold had previously rallied despite expectations of a rate hike by the U.S. Federal Reserve next month.