Dow and S&P 500 fall after Nvidia results; Super Micro, Tesla, MicroStrategy, More Mover; Oil Surges Amid Russian Nuclear Fears

Gold futures rose on safe-haven demand. Futures rose 0.7% to $2,670.80 a troy ounce.

Rising geopolitical tensions between Russia and Ukraine, exacerbated by Russia’s recent nuclear threats, have prompted investors to seek stable assets such as gold, said Antonio Di Giacomo of XS.com.

Still, the rally in gold prices was not as strong as some traders had expected as it was limited by dollar strength, he said in a note. Since both are considered safe havens, the strength of the dollar reduces the relative demand for gold.

Expectations of new monetary policy decisions by major banks – including the Federal Reserve – will likely influence both dollar and gold prices in the coming months, he said.