Gold Falls to $1,333.50 an Ounce as Ukraine Crisis Eases

This morning, as tensions in Ukraine receded, gold fell 1.3 percent, or $17.34, to $1,333.50 an ounce, according to Reuters. Meanwhile, US gold futures for April delivery were down $16.70 an ounce, to $1,333.50.

Those declines came on the back of Russian President Vladimir Putin’s statement that his country will only use military force in Ukraine as a last resort. Commenting on the situation, VTB Capital analyst Andrey Kryuchenkov told Reuters, “[g]old is a sell ahead of macro headlines this week, bar geopolitical tensions, with an overhang of speculative longs, easing physical flows and a potentially stronger dollar.”