Daily Gold Update

Source: Dr. Bill Musgrave, American Gold Exchange

Austin— Gold added another 0.4%, notching four wins in five sessions, as deepening geolopolitical uncertainty sparked additional safe-haven inflows. The conflict between Russia and the West over the fate of the Crimea became further entrenched as Ukrainian military began exercises and officials from the European Union threatened harsher penalties if Russia doesn�t withdraw its occupying forces. Weakening export data from China also supported higher gold for a second day as traders sought refuge from a slowdown in the world's second largest economy.

The paper-gold markets are also seeing substantial inflows. SPDR Gold Trust, the world's largest bullion-backed ETF, added 7.5 tons yesterday, the most in a month. Gold's rise came despite a stronger dollar, which typically weighs on precious metals and other commodities denominated in dollars for international trade. Silver fell 0.5% while platinum and palladium dropped 0.9% and 0.8%, respectively.

At the Comex close: April gold added $5.20, to $1,346.70; May silver fell nearly 10 cents to $20.815; April platinum dropped $12.60 to $1,464.60; and June palladium gave up $6.35 to $770.50