Gold prices rise third day in a row

Gold has regained in prices, for the third straight day, with prices up $1.46 an ounce to $1,283.91 an ounce, reports say. The rise is being attributed to political and economic developments- the Euro strengthening against the US dollar and strain between Ukraine and Russia, reports say. U.S. gold rose $1.60 to $1,285.00 an ounce, reports add.

The tension between Ukraine and Russia was expected to ease with the two presidents in talks, but with that having failed, and Ukraine accusing Russia of beginning a military incursion along its eastern border, reports say. Also, the European Central Bank is not keen to take a policy action soon, unless August inflation figures which would be released this week, indicate the eurozone sinking towards deflation, reports add.