05.03.201405:37:55UTC+00Gold trades below four-month peak

Gold traded beneath the highest point in more than four months as upheaval between Ukraine and Russia alleviated, holding demand for wealth protection.

Bullion to be delivered immediately settle at $1,334.81 per ounce at 8:39 a.m. in Singapore, previously $1,334.34 yesterday, when prices dipped 1.2%, the highest since January 30. The metal increased to $1,354.87 on March 3, the most since October 30, as tension between the countries intensified. 

Gold marshaled 11% this year, bouncing from the largest annual loss since 1981, even as the Federal Reserve cut down stimulus. SPDR Gold Trust shares, the largest exchange-traded product supported by bullion, were still the same yesterday on the fifth day, the longest movement assets have held steady in almost a year. In China, volumes for the benchmark spot contract in Shanghai dropped to a three-week low yesterday.

Gold to be delivered in April decreased 0.2% to $1,335.40 per ounce on the Comex in New York, prolonging yesterday’s 0.9% fall. Silver accrued 0.2% to $21.2119 per ounce after missing 1.2% yesterday. Platinum dived 0.4% to $1,458.38 per ounce, touching a two-day profit, while palladium was somewhat changed at $763.75 per ounce.