Gold futures fell to their lowest level in five weeks, while palladium climbed to its highest level in 2½ years, as investors weighed diplomatic tensions between Russia and the West.

Gold for April delivery, the most active contract, fell $24.80, or 1.9%, to settle at $1,311.20 a troy ounce on the Comex division of the New York Mercantile Exchange. This was the lowest settlement since Feb. 13, when futures closed at $1,300.10 an ounce.