As Russia ramps up rhetoric that it may disrupt natural gas being sent through Ukraine to Europe, independent metals trader Matt Hoverman says gold could be an indirect benefactor to the move. Should it occur, traders may buy the yellow metal as a safe haven hedge against a broader crisis that could emerge. Hoverman also says that the gold market already factored in the likely June move by the European Central Bank to further cut its main interest rates. The combination of Ukraine/Russia tensions and highly accommodative monetary policy currently leave a floor supporting the gold price.

More from Emerging Markets

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

Wall Street Looks To Extends Gains After Goldman Earnings Beat, China Data

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

China's President Xi Jinping Tells Boao Forum He Supports Opening Markets

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

U.S. Stock Futures Steady; Asia Stocks Mostly Lower

Jim Cramer: There Are Plenty of Shorts in Constellation Brands

Jim Cramer: There Are Plenty of Shorts in Constellation Brands

Renault Shares Hit 10-Year High on Nissan Merger Report

Renault Shares Hit 10-Year High on Nissan Merger Report