Gold rises for a third day on Ukraine crisis

Gold rose for a third day in New York as speculation of more unrest in Russia and Ukraine kept traders wary about selling metal by going short.

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Published: Sat 26 Apr 2014, 11:10 PM

Last updated: Sat 4 Apr 2015, 4:35 AM

Futures rebounded as much as $31 an ounce on Thursday. Gold for June delivery rose 0.8 per cent to $1,300.70 an ounce by 7:53am on the Comex in New York. Prices rose 0.5 per cent on Thursday after dropping to $1,268.40, the lowest level since February 10.

Gold climbed 8.1 per cent this year partly as the conflict between Russia and Ukraine fuelled demand. In China, volumes for the benchmark spot gold contract in Shanghai rose to a two-month high on Thursday.

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