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Gold prices fell sharply today, losing 1 percent, due to profit-taking after yesterday's 1.5 percent growth, but the reluctance to invest in risky assets after the crash in Ukraine support the market.
It should be noted that since the beginning of the week quotes fell nearly 2 percent after a six-week recovery by reducing concerns about Portugal's largest bank and the possibility of an early increase in interest rates the Fed. Prices rose sharply yesterday after reports of falling passenger airliner in the east of Ukraine, which was probably shot down by pro-Russian separatists. The crash happened on the next day after the United States and the European Union announced a new package of sanctions against Russia after the annexation of the Crimea in April and continuing tension in the rest of Ukraine. U.S. sanctions have become the biggest at the moment.
"Geopolitical risks are now elevated. This justifies the rise in gold prices, and in the near future, this growth is sure to continue, "- said an analyst at ANZ Victor Tyanpiriya.
Falling prices is constrained by the news from Israel, which yesterday announced the start of the ground campaign in Gaza after 10 days of air and naval bombardment failed to stop Palestinian rocket fire.
Negative dynamics of gold futures today additionally due to the weakening of investment demand for gold bullion. The assets of the world's largest holder of gold investment institutions ETFs SPDR Gold Trust declined yesterday by 2.69 m - up to 803.34 m (the lowest since July 11, 2014).
The cost of the August gold futures on the COMEX today dropped to $ 1307.20 per ounce.
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