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Gold : Ukraine Crisis Pushes Gold To 4 Month High

Gold surged to 4 month high today as geopolitical tensions in Ukraine increased the demand for safe haven. On the daily chart Gold broke the resistance at 1345.09 and found support at 1330.33 which was previously acting as a resistance for the pair. Geopolitical tensions have always distorted the markets and in a similar way the Ukraine crisis will continue to do so. However we could not say that this is the only reason for the surge in Gold. There are many other economic factors which are paying role here. Investors are now waiting for the US Manufacturing PMI data to understand the economic recovery in US.