Gold Holds Advance on Rising Haven Demand Amid Ukraine Tensions
- Biden expands Russia sanctions after initial penalties Tuesday
- Bullion near eight-month high even as Fed tightening looms
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Gold traded near its highest level in more than eight months as tensions around Ukraine intensified, boosting demand for the haven asset.
Separatist leaders in eastern Ukraine appealed to Russia for help fighting Ukrainian forces, the Kremlin said, a dramatic step that could be catalyst for Moscow to deploy troops there. The U.S. earlier expanded sanctions against Russia.