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    25.11.2015 06:24 Gold advanced amid geopolitical tensions

    Gold climbed to $1,079.00 ( 0.48%) amid escalating geopolitical tensions after Turkey downed a Russian warplane on a Syrian border. However bullion's gains are limited by expectations for an imminent interest rate hike in the U.S. Higher rates would harm demand for the non-interest-bearing precious metal.

    The North Atlantic Treaty Organization and the U.S. supported Turkey's position saying that it had a right to defend its sovereignty.

    This tension boosted gold's safe-haven appeal, however it may be short-lived. "While we think gold may be supported, we are not anticipating a robust rally, and look for only moderate gains, with a lot of upside resistance," HSBC analyst James Steel said.

    Liquidity is likely to be thin ahead of Thanksgiving Day on Thursday.


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