This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Gold Pops, More Benefit Seen From Geopolitical Events Unrelated to Ukraine

NEW YORK (TheStreet) -- Gold prices jumped Friday as tensions mounted in Ukraine over Russia's increased military drills along the border.

Gold for June delivery at the COMEX division of the New York Mercantile Exchange settled up $10.20 to $1,300.80 an ounce. The gold price traded as high as $1,305.20 and as low as $1,290.40 an ounce, while the spot price was adding $7.90, or 0.61%.

Gold ETFs in April continue to see net outflows totaling more than 24 tons.

"Underlying that trend is the continued volatility as investors assess the state of economic growth both in the U.S. and globally, and what that may mean for other assets," David Mazza, head of ETF investment strategy at State Street Global Advisors, said in a phone interview from Boston.

Mazza said that while developments in Russia and Ukraine can impact the yellow metal, the bigger geopolitical risk may be the more than 40 elections globally. Mazza said that may create some continued instability in some areas and lead some institutional investors to flock to gold in the near-term. He adds that the recent fluctuation in prices and outflows in ETFs suggest retail investors remain tense about allocating their money following huge equity gains in 2013.

Silver prices for May delivery closed virtually unchanged at $19.69, while the U.S. dollar index was slipping 0.01% to $79.76.

Gold ETF SPDR Gold Trust (GLD) was up 0.7%, while iShares Gold Trust (IAU) was increasing 0.6%.

-- Written by Joe Deaux in New York.

>Contact by Email.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs