Gold prices flat in Asia, Ukraine crisis provide support

Gold prices traded flat in Asia on Tuesday with the Ukraine crisis providing support.

On the Comex division of the New York Mercantile Exchange, gold futures for April delivery traded at 1,350.00, down 0.02%, a troy ounc. Russian President Vladimir Putin over the weekend sent troops into the Crimea region.

The move sparked fears that the West will impose sanctions on Russia. Russia’s central bank hiked interest rates from 5.5% to 7% on Monday after the rouble fell to record lows against the euro and dollar, and fears of contagion sparked demand for safe-haven gold positions.

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