Gold Prices Rise as Tensions Build in Ukraine

The price of gold rose to a four-month high Monday, as tensions escalated over Russia sending troops into Ukraine.

Traders often consider gold a safer investment in times of political or financial turmoil.

The actively traded April contract for gold rose $28.70, or 2.2 percent, to $1,350.30 an ounce Monday, the highest price since October.

Most other metals also rose. Silver for March delivery increased 24 cents, or 1.2 percent, to $21.45 an ounce. April platinum rose $13.90, or 1 percent, to $1,460.70 an ounce, and March palladium rose $5.95 to $749.80 an ounce.

Copper edged down 2 cents to $3.22 a pound.

Wheat futures, meanwhile, rose sharply. The May contract rose 29.25 cents, or 4.9 percent, to $6.315 a bushel. May corn increased 7 cents, or 1.5 percent, to $4.705 a bushel, while May soybeans edged down 5 cents, or 0.3 percent, to $14.09 a bushel.