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Gold Steadies, Supported By Ukraine Crisis

Gold prices steadied on Wednesday after falling nearly 2 percent in the previous session, underpinned by escalating tensions in Ukraine but still under pressure from a weak chart picture and concerns over a slowdown in Chinese demand.Ukrainian government forces and separatist pro-Russian militia staged rival shows of force in eastern Ukraine amid escalating rhetoric on the eve of crucial four-power talks in Geneva on the former Soviet country's future.That helped gold steady after the metal broke through a 200-day moving average at $1,300 an ounce on Tuesday, unleashing stop-loss selling that took spot prices to a low of $1,290.34.Spot gold was up 0.1 percent to $1,303.60 an ounce at 1138 GMT. U.S. gold futures for June delivery rose $3.70 an ounce at $1,304.00."The early April uptrend is now broken, and if it wasn't for Ukraine, we would be closer to $1,280," Andrey Kryuchenkov, an analyst at VTB Capital, said. "There is hardly any physical consumer demand or investor interest to supp...

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