Gold futures have rallied as investors seek out safe-haven asset amid the rising tension between Russia and the Ukraine in the Crimea.
Gold futures for April delivery on Monday reached $US1,355 an ounce, the highest since October 30, after rallies in January and February that were the first back-to-back monthly advances since August.
They settled at $US1,350.30, up $US28.70.
"The Russia-Ukraine political uncertainty produces a bid for gold," Walter Bucky Hellwig, who helps manage $US17 billion ($A19.15 billion) at BB&T Wealth Management in Birmingham, Alabama, said in an e-mail.
"With gold breaking through resistance levels, it is now attracting momentum traders adding to positions as the trend moves higher."
Share
