Gold advanced to the highest in more than four months as escalating tension between Russia and Ukraine boosted demand for a haven. Silver climbed.
Ukraine warned that Russia’s military is strengthening its presence in Crimea amid the worst standoff between the West and Russia since the Cold War ended. U.S. President Barack Obama warned Russia not to intervene and Secretary of State John Kerry is traveling to Ukraine today to offer support as Russian troops occupy the Black Sea region of Crimea.
Prices rebounded 13 percent this year after the biggest slump in more than three decades in 2013 as unrest in Ukraine and signs of slower global economic growth boosted demand for a store of value. Bullion is the third-biggest gainer in 2014, after coffee and lean hogs, on the Standard & Poor’s GSCI Spot Index of 24 commodities.
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