Gold Tumbled as Russia Claimed to be Pulling Back Forces from Ukraine

Gold slumped as much as US$20/oz amid a turning point of the Ukraine crisis. Russian President Putin said he was pulling his troops back from the border and called on pro-Russian separatists to postpone a referendum of independence. Investors were relieved although NATO the White House found no evidence of Russian pullback. Fed Chairman Janet Yellen delivered a dovish speech before a congressional panel.

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Gold Tumbled as Russia Claimed to be Pulling Back Forces from Ukraine