Gold falls as tensions in Ukraine ease

AP News
Posted: Mar 04, 2014 3:42 PM

NEW YORK (AP) — The price of gold is falling on tentative signs that Russia is not seeking to escalate the conflict in Ukraine.

Gold is reversing its gains from Monday, when it jumped to a four-month high as investors sought safe assets as tensions escalated over Russia sending troops into Ukraine.

Gold for April delivery fell $12.40, or 0.9 percent, to $1,337.90 an ounce Tuesday.

Silver also dropped, while copper, platinum and palladium gained.

In trading of agricultural commodities, wheat, corn and soybean futures all rose.

The price of oil dropped sharply after a big jump the day before on concern that Russia's military advance into Ukraine could result in economic sanctions against the country. Russia is one of the world's biggest exporters of oil.