Gold traded above a 10-week low as improvements in the U.S. economy were weighed against tension in Ukraine and signs of higher demand in China. Assets in the largest exchange-traded product held at the lowest in 12 weeks.
Emerging-market stocks fell for a third-day, led by Chinese shares after a manufacturing gauge signaled a fourth month of contraction in the world’s second- biggest economy. The yuan touched its lowest level since 2012.
Asian stocks pared gains and the yuan dropped to a 16-month low after a factory report signaled continuing weakness in China’s economy. Australia’s dollar fell and bonds rallied after inflation unexpectedly slowed.
Ukraine’s president urged security services to resume an offensive to uproot militants in the east as an agreement with Russia to ease tensions neared collapse after a visit by U.S. Vice President Joe Biden to Kiev.
West Texas Intermediate oil dropped the most in more than three months, widening the discount to Brent, on projections that a government report tomorrow will show U.S. crude stockpiles climbed last week.
Russia, the world’s biggest natural gas exporter, increased pressure on Ukraine over its $2.2 billion fuel debt as U.S. Vice President Joe Biden voiced support for the smaller country to gain energy independence.
West Texas Intermediate crude declined from its highest closing level in seven weeks on estimates that U.S. supplies rose last week. Brent slipped as U.S. Vice President Joe Biden met with Ukrainian leaders.