Daily Mountain Eagle
 LATEST NEWS
 Top Stories
 U.S.
  Severe Weather
  Bird Flu
 World
  Castro
  Mideast Crisis
  Iraq
 Business
 Personal Finance
 Technology
 Sports
  Sports Columns
  NASCAR
  Baseball
  College Hoops
  NBA
  NHL
  Tennis
  Golf
 Entertainment
 Health
 Science
 Politics
 Washington
 Offbeat
 Podcasts
 Blogs
 Weather
 Raw News
 NEWS SEARCH
 
 Archive Search
 SPECIAL SECTIONS
 Multimedia Gallery
 AP Video Network
 Today
 in History
 Corrections
Apr 23, 5:42 PM EDT

Gold prices edge up for the first time in a week

Business Video

Interactives
Brazil drills deep into ocean for oil
History's impact on oil prices
Latest News
US says oil reserves highest since 1976

Buy AP Photo Reprints

Gold prices settled higher for the first time in a week as tensions between Russia and Ukraine give the precious metal some support.

Russia warned Wednesday that it would mount a firm response if its citizens or interests come under attack in Ukraine. Separately, Dutch, British and Danish fighter jets scrambled Wednesday afternoon after a pair of Russian bombers approached their airspace over the North Sea.

"The situation is looking dicey," said Phil Streible, senior commodity broker at RJ O'Brien & Associates in Chicago.

Traders said that the news was drawing money into gold, which is often used as a refuge during bouts of turbulence. Gold for June delivery rose $3.50 to settle at $1,284.60 an ounce.

The last time gold ended the trading day higher was April 16, when it settled at $1,303.50 an ounce. The next day, Ukraine and Russia agreed on tentative steps to calm unrest along their shared border. But pro-Russian forces have yet to leave the government buildings they occupy in cities throughout eastern Ukraine.

Other metals also settled with slight gains. Platinum for July increased $3.60 to $1,403.90 an ounce, and palladium for June rose $2.35 to $786.00 an ounce. Silver for May delivery rose 8 cents to $19.438 an ounce.

Trading in agricultural contracts was mixed. Wheat rose 3 cents to $6.83 a bushel and corn rose 8 cents to $5.10 a bushel.

Soybeans slipped six cents to $14.65 a bushel.

In the market for oil and gas, crude oil dipped 31 cents to settle at $101.44 a barrel.

In other energy futures trading on the Nymex:

- Wholesale gasoline for June was flat at $3.04 a gallon.

- June heating oil lost 2 cents to $2.98 a gallon.

- Natural gas for May lost a penny $4.73 per thousand cubic feet.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.