Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold added 0.3% to close just under $1,314, rising for the third session out of the past four, as heightened geopolitical risk drove investors toward safe havens. U.S. and global equities pulled back as the dollar and U.S. Treasurys rose alongside gold.

The U.S. accused Russia of arming and training the insurgents who shot down a Malaysian Airlines jetliner past week, killing all aboard, as fighting intensified between Ukrainian and rebel forces around Donetsk. The EU will meet tomorrow to weigh deeper sanctions against Russia for fomenting the insurrection and supplying weapons to the rebels.

Fighting also intensified in Gaza following Israel's commitment of ground troops to end rocket bombardments from Hamas strongholds. The death toll in the 14-day conflict has risen to more than 550 Palestinians and 17 Israelis as hopes for a quick ceasefire begin to fade.

Oil jumped nearly 1.6% on concerns about potential supply disruptions.The other precious metals were mixed, with silver and platinum picking up 0.6% and 0.2%, respectively, while palladium slid 0.5%.

At the Comex close: August gold added $4.50, to $1,313.90; September silver gained 12 cents to $21.01; October platinum picked up $3.50 to $1,493.40; and September palladium slid $4.35 to $877.15 an ounce.