Gold futures settle higher, up nearly 6% for the month

Gold futures climbed on Monday, buoyed by Russia’s ongoing invasion of Ukraine, with prices for the metal ending higher for the month. “If there is no de-escalation between the West and Russia, there will be a surge of physical investment demand into precious metals as a rush into precious safe havens explodes,” said Peter Spina, president and chief executive officer at GoldSeek.com, noting that Russia is also among the world’s biggest gold producers. Still, gold prices may see “some selling pressures from some liquidity needs, so you will see some volatility,” said Spina. April gold GCJ22, +0.64% rose $13.10, or 0.7%, to settle at $1,900.70 an ounce. Prices based on the most-active contract rose 5.8% for the month, according to FactSet data.