At CNBC: Gold eyes 4th week of gains on Ukraine default fears

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Gold eyes 4th week of gains on Ukraine default fears

By: Sri Jegarajah, CNBC

Gold may post its fourth week of gains as concern of prolonged political unrest in Ukraine raises fears of a sovereign default, fueling demand for safe-haven assets including bullion.

Quote:

A key indicator of Chinese manufacturing, which dropped to a seven-month low last week, “along with unexpected weakness in the U.S. housing market, and the unstable situation in Ukraine have put the luster back on gold’s safe-haven status for many investors,” said Edmund Moy, former director of the U.S. Mint.

Read the full piece at CNBC.com.

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