Gold retreated for a second day, extending the biggest drop in three weeks, on prospects for further cuts to the Federal Reserve’s stimulus program as the U.S economy shows signs of recovery. Silver fell.
Russian stocks trading in New York sank for a fourth day as concern mounted that President Vladimir Putin faces stiffer international sanctions after his special forces were spotted in eastern Ukraine.
Ukraine’s offensive against pro- Russian separatists may have escalated the conflict to the point where NATO could be compelled to mount a stronger show of force to deter any Russian moves beyond eastern Ukraine.
Ukraine unleashed an offensive to dislodge militants from cities in the eastern Donetsk region as authorities in the capital Kiev said Russian special forces were identified among the anti-government groups.
The U.S. and European Union deliberated deepening sanctions against Russia for stoking unrest in eastern Ukraine, while President Vladimir Putin said he’s being called on to intervene in the former Soviet republic.
U.S. President Barack Obama and Russian President Vladimir Putin remained at odds over Ukraine as fighting between pro-Russian separatists and government forces highlighted instability in the country’s east.
U.S. President Barack Obama warned Russian President Vladimir Putin of further consequence over Ukraine after clashes between pro-Russian separatists and government forces in the east of the country turned deadly.
The U.S. readiness to impose new economic sanctions on Russia over Ukraine is offset by the European Union’s reluctance to introduce stronger measures that could threaten its already fragile economic recovery.