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Gold heads for first monthly gain since June on Ukraine

Ukraine's president said on Thursday that Russian troops had entered his country in support of pro-Moscow rebels who captured a key coastal town, sharply escalating a separatist war and prompting anger and alarm among Kiev's Western allies.

August 29, 2014 / 07:55 IST
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Gold hardly moved on Friday but was on track for its first monthly gain since June after some investors ditched equities and poured their money back into gold due to growing tensions between Russia and Ukraine.

Ukraine's president said on Thursday that Russian troops had entered his country in support of pro-Moscow rebels who captured a key coastal town, sharply escalating a separatist war and prompting anger and alarm among Kiev's Western allies.

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FUNDAMENTALS

* Gold was little changed at USD 1,290.25 an ounce by 0030 GMT. Gold prices were more than USD 600 below a record hit in 2011.