Gold Bullion 1 % Dropped As US Equities Surged
Eye on Equities | 2014-03-05 02:51:54 | By Paul Ploumis
Gold bullion price on Tuesday was found to drop about 1 % as the US equities surged up by the S & P 500 Index.
NEW YORK (Scrap Monster) : Gold bullion price on Tuesday was found to drop about 1 % as the US equities surged up by the S & P 500 Index. One of the reasons cited for the plunge of gold price and rise of US equities is the easing of the Ukraine crisis as Russian president Vladimir Putin announced that they will not be releasing military action in Ukraine. This assurance has triggered the gold investors to take benefits from the rally of the previous day.
The drop of bullion price was found to be reflected as the US equities measured by the S & P 500 index climbed more than 1 % to a record breaking high followed by the ordering of the Russian president to return their military troupes back to their bases. This move is reported to have eased tensions in Ukraine.