Gold Prices Rise On Heavy Demand For Safe Harbor
ICM Brokers | Jul 22, 2014 04:27AM ET
Crude Oil
Crude futures rose on Monday amid fresh concerns that geopolitical tensions in Ukraine and in Gaza will disrupt global supply. Crude gains on fears Ukraine, Gaza violence may disrupt global supply Geopolitical concerns send oil prices rising Concerns that tensions in Ukraine will escalate and threaten Russian oil exports sent crude prices rising on Monday as did fears that Israel's ground offensive in Gaza may embroil the broader Middle East. Reports that Ukrainian troops were moving in to the rebel-held city of Donetsk only days after pro-Russian separatists allegedly shot down a Malaysian Airline flight with a missile fueled geopolitical concerns on Monday, bolstering crude prices in the process. Meanwhile in the Middle East, Israel pressed on with its ground offensive in Gaza in a conflict that has killed hundreds. Earlier Monday, U.S. President Barack Obama said he was concerned about the violence and called for a ceasefire in Gaza.
Gold
Gold prices rose on Monday on demand from investors seeking safe harbor from geopolitical tensions in Ukraine and in Gaza, especially after the U.S. put pressure on Russia to disclose what it knows about the downing of a Malaysian Airlines plane last week. Gold gains as a investors seek safe harbor from geopolitical woes Gold rises as investors track events unfolding in Ukraine, Gaza Concerns that tensions in Ukraine could escalate even further kept investors camped out in safe-haven positions on Monday, gold especially, amid reports that Ukrainian troops were moving in to the rebel-held city of Donetsk only days after pro-Russian separatists allegedly shot down a Malaysian Airlines flight with a missile. Meanwhile in the Middle East, Israel pressed on with its ground offensive in Gaza in a conflict that has killed hundreds.
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