(Reuters) - U.S. stocks mostly rose on Wednesday, adding to their gains in late trading after Federal Reserve Chair Janet Yellen indicated continued central bank support for the U.S. economy, while stocks in other regions were flat.
Many other markets closed before the acceleration in U.S. gains. Equities were volatile throughout the day, with investors parsing comments from Russian President Vladimir Putin indicating a possible easing to the geopolitical concerns over Ukraine that have weighed on markets.
Gold, viewed as a safe-haven asset, fell 1.4 percent, while the U.S. dollar rose slightly against a basket of currencies, though it remained near a six-month low.
Yellen said the U.S. economy was still in need of support from the central bank given the "considerable slack" in the labor market. She also cited the housing sector and geopolitical tensions as issues of concern.
Putin said he was ready to discuss a way out of the Ukrainian crisis and called on separatists in east Ukraine to postpone a May 11 referendum on the status of the mostly Russian-speaking region.
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The miners have started 2014 very well indeed on the back of rising gold prices, so the question is;Is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?
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