Exchange prices for gold rose on Monday and are approaching record levels since January last year amid a sharp escalation of geopolitical tensions, writes MarketWatch.
April gold futures rose 0.64% on the Comex to $1,912 an ounce. Since the beginning of the year, the growth of gold quotes has exceeded 4 percent.
Silver futures rose almost 1% on Monday to $24.235 an ounce, hitting a 30-day high.
"We expect gold prices to trade higher during the day, with Comex Spot gold support at $1,890 and resistance at $1,920 an ounce," said a senior commodities analyst at India's HDFC Securities Tapan Patel.
Prices for precious metals are rising against the backdrop of news about Russia's recognition of the independence of certain regions of the Donetsk and Luhansk regions of Ukraine.
The United States and its European allies called Moscow's actions a violation of international law and announced their intention to impose sanctions, which could be announced as early as Tuesday.
