Middle East

Ukrainian tensions have boosted gold to its highest level in over a year

Gold has risen to its highest level in over a year as tensions around Ukraine have increased and demand for shelter assets has increased.

President Vladimir Putin has decided to carry out a special operation to “protect” the Donbus area, TASS reported.

TASS said Russian leaders said the country had no plans to occupy Ukraine. Putin also said Russia would not let its small neighbors secure nuclear weapons, according to media outlets.

Gold has honed its credibility as a store of value in times of geopolitical upheaval, and gold is underpinned by the heightened crisis in Eastern Europe.

Spot gold rose 1% to $ 1,928.80 an ounce, the highest level since January 2021 and traded in Singapore at 11:12 am for $ 1,924.76.



https://gulfbusiness.com/gold-climbs-to-highest-in-more-than-a-year-on-ukraine-tensions/ Ukrainian tensions have boosted gold to its highest level in over a year

Back to top button