Gold Bulls Run for $1,400 as Turmoil in Ukraine Spurs Demand
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Gold traders are setting their sights on $1,400 an ounce, a price not reached since September, as the worst standoff between the West and Russia since the end of the Cold War increases demand for the metal as a haven.
The most-traded bullion option on the Comex yesterday was a call giving owners the right to buy at $1,400 by April, with an estimated 4,547 lots changing hands. That’s almost double the amount of the next most-active option and compares with an average volume of 427 in the past month.