All that glitters

Gold traded above the lowest price in more than two weeks as investors weighed tension over Ukraine against signs of an improving U.S. economy.

Today we saw data showing a U.S. manufacturing gauge expanded after a report yesterday showed the Conference Board’s index of leading indicators rose the most in four months. Gold ended a 12-year bull run in 2013 on expectations the Federal Reserve would reduce stimulus as the world’s largest economy recovers.

Bullion slipped 7.3 percent since reaching a six-month high on March 17, when the Ukraine crisis spurred demand from investors for “haven assets”.

An agreement to ease tensions showed signs of crumbling as the U.S. and Russia traded blame, while Vice President Joe Biden was meeting government leaders.