Gold price jumps on haven demand, but by how much?

Frankfurt (Apr 26)  Gold futures gained for the third consecutive day, as escalating tensions between Ukraine and Russia and a broad decline in U.S. equities fueled the metal’s first weekly price gain two weeks.

Gold for June delivery added 0.8 percent to finish at $1,300.80 an ounce on the Comex division of the New York Mercantile Exchange. Prices gained roughly 0.5 percent for the week.

The Group of Seven nations are preparing new measures against Russia, German Chancellor Angela Merkel said, after the U.S. accused Russia of trying to impose its will on Ukraine at “the barrel of a gun and force of a mob.” Gold reached a six-month high in March after Russia annexed Crimea.

In other metals, May silver was little changed for the session, closing at $19.69 an ounce, but was also up around 0.5 percent for the week.

July platinum increased 1 percent to finish at $1,424.30 an ounce—0.3 percent lower for the week, while June palladium rose 1.1 percent to $811.20 an ounce, up about 0.5 percent on the week.

High-grade copper for May delivery settled less than a half cent higher at $3.125 a pound, but saw a gain of about 2.6 percent for the week.