The price of gold rose to its highest level since September during the Wednesday trading session amid the continued political and military crisis between Russia and Ukraine. The conflict increased demand for the assets such as precious metal, which has traditionally been recognized as a safe haven for investments. The futures of gold with delivery in April rose to 1,365.60 USD per ounce with a daily increase of 1.40%. The level is the highest since the first week of September 2013.
Meanwhile, the silver with May delivery also rose strongly, adding 1.57% to its price and reached the level of 21.142 USD per ounce. The unvestors continued to monitor closely the development od the crisis in Ukraine, where the tensions between Moscow and the West escalated in recent weeks. In today’s key conflict was published by the White House statement of the G7, which calls on Russia to cease all efforts to change the status of Crimea against the Ukrainian law and in violation of international law.
The world leaders have indicated their willingness to take further action, if Russia is attempting to annex the Crimea. The statement was signed by the political leaders of Canada, France, Germany, Italy, Japan, UK, USA, the European Council and the European Commission.
However the copper price is still far from the observed one a month ago, in spite of the fact that reached a growth during the trading session. The price of the red metal with delivery in April rose by 0.31%. The decline came amid the latest economic news from China. In addition, there are concerns about the state of the corporate sector in the country. The investors remain nervous about the indications of weakness in the bond market after the bankruptcy of Chaori Shanghai Solar Energy Science & Technology Co last week.