Gold price has best day in a fortnight

Australia (Aug 27)  Gold prices finished higher overnight as tensions flared on the border between Ukraine and Russia, increasing demand for the precious metal as a haven.

Gold for December delivery settled up 0.5% at US$1,285.20 an ounce.

Russian President Vladimir Putin began talks today with his Ukrainian counterpart, Petro Poroshenko. Ukraine said that 12 servicemen and 200 rebels died in the past 24 hours.

In other metals, September silver settled up nearly 0.1% to US$19.39 an ounce.

October platinum edged higher to US$1,419.60 an ounce, while September palladium eased to US$888.70 an ounce.

High-grade copper for September delivery rose a penny to nearly US$3.22 a pound.

Source: ProActiveInvestors