Gold reclaims $1,300 on Ukraine concerns
Gold futures recovered from its recent weakness to reclaim the $1,300 level on Wednesday on geopolitical worries stemming from Ukraine-Russia tensions.
December gold GCZ4 +1.84% rallied $22.90, or 1.8%, to settle at $1,380.20 an ounce on the Comex division of the New York Mercantile Exchange. Reports that Russia has increased troops on its eastern border with Ukraine sparked safe-haven demand for the precious metal.