Elsewhere, investors continue to monitor commentary from Fed officials for clues on the likely path of monetary tightening. Fed Governor Michelle Bowman suggested that a half percentage-point increase in interest rates could be on the table next month if incoming readings on inflation come in too high
Gold hits near nine-month high as Ukraine crisis deepens: Reuters
Gold hit a near nine-month high on Tuesday, as the situation in Eastern Europe intensified after Russia ordered troops into breakaway regions of eastern Ukraine, supporting demand for safe-haven bullion.
Spot gold was up 0.2% at $1,909.33 per ounce, after scaling its highest since June 1 at $1,913.89 per ounce earlier. U.S. gold futures GCv1 gained 0.7% to $1,913.80.
“With the situation deteriorating seemingly by the day in Eastern Europe, there is very little reason to be negative on gold at the moment,” said Jeffrey Halley, a senior market analyst at OANDA.
EU to adopt Russia sanctions ‘this afternoon’, says foreign policy chief: AFP
European Union foreign ministers will adopt sanctions Tuesday against Russia over its recognition of Ukrainian separatist regions and further deployment of troops on its neighbour’s territory, the bloc’s foreign policy chief Josep Borrell said.
“Of course our response will be in the form of…
