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Gold rise strongly after US sanctions on Russian oil company

18 Feb 2020 06:36 PM

Gold prices rose strongly after US imposed sanctions on the trading unit of the Russian state-controlled oil company Rosneft for helping Venezuela to avoid its oil embargo.

Senior administration officials warned that anyone would doing business with Rosneft could also be sanctioned.

As a react, gold prices rose by 1.1% since the beginning of the day surpassing levels of 1600$, which is the highest over more than a month.

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