Gold futures surge on Ukraine crisis

Gold futures surged on Wednesday as mounting political unrest in Ukraine boosted demand for the yellow metal as a haven asset. Further, news that Germany's Bundesbank is on board with the European Central Bank's stimulus plans also supported the upside of the precious metal price. Gold futures for June delivery settled up 0.83 percent at $1,305.60 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 0.08 percent to $1306.05 an ounce.