With the news headlines dominated by Russian armies’ move into the Crimean region over the week, gold jumped in Asian session today as heightened geopolitical tensions raised demand for safe haven assets. Russia’s parliament unanimously approved President Putin’s request to authorize the country’s forces to intervene in Ukraine until “the normalization of the political situation” there. The move has not only raised tensions between the 2 countries but also worldwide.
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Gold Soared As Intensified Tensions in Ukraine Stimulated Safe-Haven Demand
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