Nice little lift in Gold based upon those Golden words ' Geopolitical unrest' in this case knickers continuing to get twisted over the Ukraine.
At the moment John Kerry is Golds best friend as he wanders around the world making threats against Russia, his latest merely restates a previous position but I guess it did not get wide enough distribution so he is repeating it and this time MSM is picking it up. He has foolishly stated that additional sanctions targeting Russian Energy, banking, and mining industry are all on the table if Russia Intervenes further in the Ukraine.
Being a Politician he has left it vague as to what he means by intervene, but in a nutshell the US is very upset that their regime change in the Ukraine is not going the way they want. The US sees current pro Russia protests in the Ukraine as being Russian backed, Duh! while Russia is upset about the US military contractors stirring up unrest and anti Russian feeling in the Ukraine.
Finally the Russian bank Rossiya has come out with a Gold Ruble and will be transacting exclusively in Rubles from now on in retaliation to JP Morgan blocking a wire transfer for $5000 dollars, which they later approved when they realised the reaction they got was many times what they were expecting.
Not serious yet just sabre rattling from all sides but the potential is there for this to erupt into something massive, egos are now involved Putin,Kerry, Obama and nobody wants to look weak. So over the top knee jerk reactions may become more common such as JP Morgans wire transfer block and Russia's response.
The US continues to treat Russia like some third world country that can be smacked and brought into line and that will turn out to be a big mistake.
Situation continues to be pro Gold....for the time being, with the potential to explode.
DYOR, I make things up.
RSG Price at posting:
62.5¢ Sentiment: Hold Disclosure: Not Held
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