"Gold for April delivery, the most active contract, rose $23.80, or 1.8%, to settle at $1,370.50 a troy ounce on the Comex division of the New York Mercantile Exchange. This was the highest close since $1,386.70 reached on Sep. 9.
Gold prices have gained 14% this year as instability in emerging markets and worries about U.S. economic growth reinvigorated investor demand for the haven asset. Some traders view gold as safer than stocks or government bonds because it isn't linked to a particular country or government.
Leaders of the Group of Seven advanced economies called on Russia to defuse the situation in Ukraine's Crimea region by reducing troop levels and halting annexation efforts. Russian troops have occupied Crimea since late February. Crimea will vote Sunday whether to secede from Ukraine and join Russia. The G-7 said it won't recognize the results of Crimea's referendum".
Source: WSJ
