Gold Up on Weak Stock Market, Renewed Ukraine Tensions

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Gold Prices Going Up

Renewed tensions in Ukraine, a weaker U.S. dollar and poor stock market performance combined to bolster gold on Friday and more border standoffs and administrative building takeovers by Russian sympathizers in eastern Ukraine promised more unrest in the region over the weekend.

More regional instability in eastern Ukraine could lead to a run on gold and silver such as the one seen before Crimea’s independence vote.

Indian silver had the largest decline on Friday, April 11, dropping 2.0 percent and landing at INR 44,904 ($743.51) per kilogram. US silver saw its price rise 0.9 percent to $20.03 per ounce. Japanese silver prices saw a 0.9 percent decline to JPY 651.00 ($6.42) per 10 grams. Chinese silver ended the day at CNY 4,145 ($667.17) per kilogram, after the 0.2 percent drop last Friday.

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US gold bullion finished the day up 0.4 percent to $1,318 per ounce. Chinese gold bullion prices rose 0.3 percent to CNY 263.00 ($42.33) per gram. After a 0.2 percent increase, Indian gold bullion finished the day at INR 28,559 ($472.87) per 10 grams. The price of Japanese gold bullion remained essentially flat at JPY 4,304 ($42.44) per gram.

US platinum bar prices inched up 1.0 percent to $1,452 per ounce. Japanese platinum bar closed 0.4 percent lower at JPY 4,715 ($46.50) per gram. Chinese platinum bar gained 0.3 percent to finish at CNY 309.00 ($49.74) per gram.

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At JPY 2,586 ($25.50), the price of Japanese palladium bar finished the market day up 1.3 percent per gram. The price of US palladium bar increased 1.0 percent to $788.00 per ounce. Chinese palladium bar prices inched up 0.6 percent to CNY 179.00 ($28.81) per gram.

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