Gold futures rose Tuesday to their highest finish since June, as Russia’s move into Ukraine boosted haven demand for the precious metal.
“Gold did move higher over the past couple weeks, rising from approximately $1,800 on February 1st to $1,900 today, in anticipation of Russia invading Ukraine and not pursuing any real diplomatic solution,” said Jeff Wright, chief investment officer at Wolfpack Capital. “The safe-haven buying of gold has been real and substantial over this time.” April gold GCJ22, -0.35% rose $7.60, or 0.4%, to settle at $1,907.40 an ounce – the highest intraday level for a most-active contract since June 2, 2021, FactSet data show.