Gold Price, Global Politics & Ukraine: Expert Roundtable

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Bill O'Neill of Logic Advisors has visited Ukraine twice in the past 18 months. Bill believes the situation will quiet down in the short-term. "But don't be surprised to wake up one morning to hear that there is shooting going on..."

Commodities trader and author Andy Hecht agrees. "It's not the end, it's the beginning," he told my gold price panel, pointing out that crude oil has backed off in the past couple of days, although palladium is still up strongly. Because "Russia produces 80% of the world's palladium."

Author of daily trading advisory Dennis Gartman said events in Ukraine sparked an instantaneous flow of money into gold. Grain and crude oil also saw price spikes, on the belief that supplies would be cut off from the Ukraine – the world's third-largest exporter of corn and fifth-largest exporter of wheat.

Gold politics and investment expert George Milling-Stanley meantime noted that either "gold has had a really bad time, because it's dropped more than 30% from an all-time high. Or you can say that gold is actually performing quite well because it's building a base that's 5-times the level of where it was just a decade ago."

Listen to the full hour-long show here at Bullion Vault's New York Markets Live special on Ukraine and commodities.