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3 Mar 2014
Flash: Ukraine jitters hurt stocks, lifted gold - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, noted the rise in the precious metal and the sell-off in Russian stocks.
Key Quotes
"In addition to the reaction from stocks, gold has seen gains with the other big movers being commodities, as gas and oil prices also moved to highs on worries of supply interruptions from the region, Ukraine is the main supply route of Russian gas into Europe".
"At the open the Russian currency and stock markets were aggressively sold, the MICEX fell by 9%, the most in five years. Whilst the Russian Central bank responded by hiking interest rates from 5.5% to 7%."
Key Quotes
"In addition to the reaction from stocks, gold has seen gains with the other big movers being commodities, as gas and oil prices also moved to highs on worries of supply interruptions from the region, Ukraine is the main supply route of Russian gas into Europe".
"At the open the Russian currency and stock markets were aggressively sold, the MICEX fell by 9%, the most in five years. Whilst the Russian Central bank responded by hiking interest rates from 5.5% to 7%."