Precious metals across the board sustained moderate to strong price declines in light of recent news suggesting that the geopolitical tension between Russia and Ukraine has begun to de-escalate.

As geopolitical tensions continue to rise on the border of Russia and Ukraine, both gold and the U.S. dollar are truly acting as safe-haven assets.

Once again there are dual components that have created the perfect conditions for gold to run dramatically higher. First was yesterday’s inflationary data indicating that the CPI index has increased to 7.5% in January.