Gold Above $2,000 on Safe-Haven Appeal; Nickel up Over 20 Percent

Granules of 99.99 percent pure gold and silver are seen in glass jars at the Krastsvetmet non-ferrous metals plant, one of the world's largest producers in the precious metals industry, in the Siberian city of Krasnoyarsk, Russia, on Nov. 22, 2018. Ilya Naymushin/Reuters

Gold climbed to its highest in one-and-half years on Monday and palladium hit an all-time high on safe-haven asset appeal, while nickel soared over 20 percent on fears of supply disruptions tied to sanctions on Russia and continued fighting in Ukraine.

Gold prices rose above $2,000 per ounce, palladium hit a record, LME 3-month nickel posted its largest ever one-day gain, and oil and wheat jumped to 14-year highs as Russia’s escalating invasion of Ukraine continued to roil global commodities.