Say what you want about the value of gold as a currency replacement or a safe haven, at least those pesky Russian can't hack into it.
The FBI is investigating reports that the Russians hacked into account information at JP Morgan and other US banks perhaps in retaliation for US led sanctions. (COMEX:GCV14) Gold prices are higher after the hack attack in part because the shorts are getting nervous as geo-political risks are high. Having assets in cash or paper sitting in a bank that may be moved at any minute by some nefarious Russian hack job may be another reason to diversify some of your portfolio into gold. Not to mention that September is a seasonally strong time for gold.
Talks between Russia and Ukraine have gone nowhere and there is growing concern that a deal to keep natural gas flowing to Europe this winter may not happen. Oil and heating oil are trying to put in its seasonal bottom after a less than inspiring Energy Information Agency petroleum status report. Reports that the separatist forces in eastern Ukraine are being supported by Russian tanks and armored personnel carriers, leaves little hope that a peaceful resolution of this crisis is anywhere in sight.
The Daily Beast is reporting that "Leading U.S. officials now believe that America has to expand its air war against ISIS into Syria, but nobody knows yet how we can do it… or what will happen next. They say that "President Obama wants to decide by the end of the week whether or not his war in Iraq against the Islamic State will expand to the group's haven in eastern Syria. But nearly everything about the potential military campaign is still in flux, administration officials tell The Daily Beast—from the goals of the effort to the intelligence needed to carry it out."