Gold rose above $1300 an ounce

Market news

2 May 2014

Gold rose above $1300 an ounce

Gold prices rebounded from session low and rose above ;1300 level as escalating tensions between Russia and Ukraine boosted demand for the precious metal as a haven.

Gold fell at the begining of american session after strong U.S. job report and showed lows below $1280 area.

Ukraine sent armored vehicles and artillery to retake Slovyansk, a stronghold for pro-separatist forces, defying President Vladimir Putin’s demand to pull back troops with Russia’s army massed across the border.

Currently gold was up 1.53% at $1,301.70 an ounce. Session low was established at $1,274.80 an ounce

Crude oil rose on concern escalating tensions in Ukraine and strong U.S. labor data

Foreign exchange market. American session: the U.S. dollar jumped against the most major currencies after the release of better-than-expected U.S. labour market data, but later lost all its gains due to concerns on tensions in Ukraine

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