Gold tops $1,900, marks highest settlement since June

Gold futures climbed sharply on Thursday, topping the key $1,900 mark to settle at their highest since June of last year. “If Russia invades Ukraine, it will come with sanctions that will see the country all but locked out of the global financial system,” said Kyle Roda, market analyst at IG, in emailed commentary. “For many, stores of value will be required, and the Russian central bank might be forced to sell dollars and increase its gold reserves.” April gold rose $30.50, or 1.6%, to settle at $1,902 an ounce. Prices based on the most-active contract settled at their highest since early June of last year, FactSet data show.

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