Gold rises to 6-mth high as demand climbs on Ukraine to China

London, Mar 13. Gold today advanced to the highest level in almost six months as tension between Ukraine and Russia and concern about slowing Chinese economic growth increased demand for a store of value. Gold rose 0.4 per cent to USD 1,372.54 an ounce, after touching USD 1,375.21, the highest since September 19. Silver also rose 0.5 per cent to USD 21.40 an ounce. The US pressed Russia to cancel or postpone the March 16 referendum on Crimea joining Russia or at least agree not to implement any annexation vote as President Barack Obama met at the White House with Ukrainian interim Prime Minister Arseniy Yatsenyuk. Obama and US allies in Europe are ratcheting up the threat of sanctions if Putin does not take steps to defuse the situation. Meanwhile, China's retail sales, industrial output and investment last month trailed estimates, data showed today. The dollar fell to the lowest level against the euro since October 2011. Bullion advanced 14 per cent this year, rebounding from the biggest annual drop since 1981, as concern economic growth in the US and China is slowing and the crisis in Ukraine spurred demand for a haven.