LCU:Gold Holding Near 6-Month Highs On Crimea Vote
WASHINGTON (Alliance News) - Gold futures hovered near 6-month highs Friday morning, supported by tensions surrounding an historic referendum in Crimea.
Crimea will decide whether to become part of Russia on Sunday. Ukraine's prime minister said today that Russian-speaking Crimea will almost certainly vote to join Russia.
The US and euro zone are expected to slap sanctions on Russia if the vote goes ahead.
Gold, considered a safe haven for investors, has risen sharply this week on Ukraine worries and signs that China is slowing down.
Gold for April was up 3 dollars at USD1373 an ounce, having reached a 6-month peak of USD1375 earlier in the week.
Better-than-expected US economic data on Thursday may have stopped gold's charge toward USD1400.
Silver added 0.76% to USD21.36 an ounce. Copper was up 1% to USD2.92 a pound.
On today's calendar, the University of Michigan Consumer Sentiment Index is released at 09:55 a.m. Eastern Time.
