Price gains for gold, silver on safe-haven demand

Gold and silver futures prices are higher in early U.S. trading Monday, with gold notching a nearly three-month high. This trading week is start out “risk-off,” which is prompting safe-haven buying in the precious metals markets. April gold futures were last up $13.90 at $1,856.00 and March Comex silver was last up $0.336 at $23.695 an ounce.

Traders and investors are showing keener risk aversion to start the trading week, as the U.S. says Russia could invade Ukraine any day now. The uncertainty on the matter is likely to continue to run high, as the U.S. response to a Russian invasion of Ukraine is a wild card—running the gamut of the U.S. slapping more sanctions on Russia, to participating in a full-blown ground war in Europe.

Global stock markets were mostly lower overnight. U.S. stock indexes are pointed toward firmer openings when the New York day session begins. The stock indexes did move well off their overnight lows on a news report that the Russian foreign minister Lavrov said there may be a path forward on negotiations with the U.S. and European countries.

Meantime, the yield on the U.S. 10-year Treasury note is presently fetching 1.93% after pushing above 2.0% late last week. Inflation worries are also buffeting the marketplace, led by surging energy prices.