Gold prices rise amid turmoil in Ukraine

New York (July 25)  Gold prices are settling higher as unrest in  Ukraine  and the  Middle East  draws traders into their hiding spots.

Gold for August delivery rose  $12.50  , or 1 percent, to settle at  $1,303.30  an ounce on Friday. Silver for September added  22 cents  , or 1.1 percent, to  $20.64  an ounce.

 The U.S. Defense Department  said Friday that  Russia  was about to move heavy artillery into the hands of separatists in  Ukraine  . The day before, the Obama administration accused  Russia  of firing artillery at  Ukraine's  military.

Traders often shift money into gold in turbulent times. In March, gold prices reached a high point for the year as the territorial dispute between  Russia  and  Ukraine  grew tense.

Crude oil picked up  2 cents  to end at  $102.09  a barrel.

Source: Associated Press