Gold rebounded as
Greek Prime Minister Alexis Tsipras reaffirmed his government™s
rejection of the country™s bailout program and concern increased that
Ukraine™s conflict may worsen, spurring demand for haven assets.
Bullion for immediate
delivery added as much as 0.4 percent to $1,239.31 an ounce and was at
$1,237.72 at 11:54 a.m. in Singapore, according to Bloomberg generic
pricing. Prices fell to $1,228.48 on Feb. 6, the lowest level since Jan.
15, after data showed the U.S. added more jobs than forecast in
January, boosting expectations that the Federal Reserve will move toward
the first interest-rate increase since 2006.
Greece™s Tsipras vowed
to increase the minimum wage and halt infrastructure privatizations on
Sunday, putting him on a collision course with creditors before an
emergency meeting with euro-area finance ministers. Ukraine™s almost
yearlong conflict enters a pivotal week with discussions to resume on
Monday in Berlin aimed at preparing a summit for the leaders of Germany,
France, Russia and Ukraine in Minsk, Belarus, on Feb. 11.
Ukraine, the U.S. and
the European Union say Russia is supporting separatists in Ukraine™s
east. Almost 5,400 people have died in the fighting since April,
according to the United Nations. This week™s diplomatic effort comes as
the U.S. and some European allies consider supplying arms to Ukraine.
Source : Bloomberg
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