Breaking News
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Gold rises on Gaza, Ukraine turmoil

CommoditiesJul 21, 2014 09:58AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Gold edges higher on Gaza, Ukraine tension - Gold moved higher on Monday, as geopolitical jitters in Ukraine and the Gaza Strip lured investors into safe haven assets.

On the Comex division of the New York Mercantile Exchange, gold for August delivery tacked on 0.39%, or $5.10, to trade at $1,314.50 a troy ounce during U.S. morning hours. Prices held in a tight range between $1,308.00 and $1,319.00.

Gold ended Friday’s session down 0.57%, or $7.50, to settle at $1,309.40 an ounce. Futures were likely to find support at $1,293.50, the low from July 16 and resistance at $1,325.90, the high from July 17.

Also on the Comex, silver for September delivery inched up 0.61%, or 12.7 cents, to trade at $21.01 a troy ounce.

Gold benefitted from Israel's intensifying ground offensive into Gaza against Hamas militants, who have fired hundreds of rockets into Israel over the past two weeks.

The Palestinian Health Ministry said Monday that the Palestinian death toll in the two-week-old Israeli offensive rose by more than 80 during the night and now exceeds 500.

Despite heavy casualties, Israeli Prime Minister Benjamin Netanyahu warned on Sunday that military operations against Hamas militants could be expanded.

Meanwhile, investors remained cautious following the shooting down of a Malaysian airliner in eastern Ukraine late last week, with the U.S. blaming pro-Russian separatists for the act.

U.S. Secretary of State John Kerry said Sunday that there was overwhelming evidence of Russian complicity in the downing of the airliner. Russia and Ukraine still accuse each other of being behind the downed passenger plane.

Western leaders from the U.K., France and Germany have warned Russian President Vladimir Putin of increased sanctions by Tuesday if international investigators are not allowed full access to the crash site.

Gold is often seen as a haven investment in times of geopolitical uncertainty.

Elsewhere in metals trading, copper for September delivery advanced 0.56%, or 1.8 cents, to trade at $3.202 a pound.

Gold rises on Gaza, Ukraine turmoil

Related Articles

Oil climbs on tight supply, renewed risk appetite
Oil climbs on tight supply, renewed risk appetite By Reuters - Sep 22, 2021 3

By Sonali Paul MELBOURNE (Reuters) - Oil prices rose on Thursday, extending strong gains overnight with fuel demand growing and crude stocks declining as production remains...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email