from Gold Core:
Heightened tensions ahead of Ukraine’s weekend referendum in Crimea and concerns over China’s financial system and economy and indeed the global economy pushed world stocks to their lowest in a month on Friday and sent investors into safe haven gold.
Gold is 2.3% higher again this week and reached a 6 month high of $1,376.64/oz today and is poised for its sixth straight weekly rise. Gold is now 14% higher so far in 2014. It’s technicals look good and from a momentum perspective gold looks bullish.
European shares started the day down 0.6% after the Nikkei plunged 3.3% overnight and is down 6.2% for the week. Stocks globally are on course for their biggest weekly drop since January. The German DAX whose German constituents have the most exposure to Russia, is down 4.3% for the week and facing its largest weekly losses since the height of the euro crisis in June 2012.
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