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Gold Moves Higher to 1283.00 As Russian Convoy Enters Ukraine

Posted by Chris Advincula on Aug 22, 2014 6:44:00 AM

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Chart: WorldWideMarkets Alpha Trader

Moscow defies Ukraine's standoff at the Donetsk border and ordered a convoy of 90 trucks supposedly carrying humanitarian aid into the eastern Ukraine without the permission of Kiev.

Kiev officials had previously demanded that the Russian trucks be escorted by the International Committee for the Red Cross. Kiev and Western officials have expressed their concerns that the cargo and people involved is a pretext to a military intervention by the Russians. Russia denies the accusation being absurd.

Israel, on the other hand vowed to target more Hamas leaders after their recent air strike killed three Hamas commanders. 

U.S. Defense Secretary Chuck Hagel said that the Islamic State militants represents a major threat to the U.S. that may surpass the once posed by Al Qaeda. "They are an imminent threat to every interest we have, whetehr it's in Iraq or anywhere else," during a press briefing in Pentagon in Washington.

Gold rose ten dollars to 1283 from the 2-month low of 1273.00 in the intraday chart as the risk appetite came back on a safe-haven buying interest.

Topics: gold, forex trading, European Session, Fundamental Analysis

 

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