Gold rises to six-month high on China worries, Ukraine


Reuters
March 12, 2014

Gold rose to a six-month high on Thursday as fears of economic slowdown in China and lingering worries about Russia’s standoff with Ukraine over Crimea dampened demand for riskier assets and boosted bullion’s appeal.

U.S. equities and copper pries tumbled after data showed China’s economy slowed markedly in the first two months of the year. Worries over China’s first bond default and weak export data earlier in the week have also stoked concerns about the health of the world’s second-largest economy.

Gold was also underpinned after Russia launched military exercises near its border with Ukraine, showing no sign of backing down in its plans to annex its neighbor’s Crimea region.

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