Gold price closing in on $1,900

  • 02/17/2022
  • Source: Mining.com
  • by: Mining.com Staff Writer
Gold prices jumped to an eight-month high on Thursday, closing in on the key $1,900 /oz mark, after reports of mortar fire in eastern Ukraine drove investors toward safe haven assets.

Spot gold rose 1.4% to $1,895.84/oz by noon ET, its highest since early June 2021. US gold futures were also up 1.4%, trading at $1,899.00/oz in New York.

Russian-backed rebels and Ukrainian forces traded accusations on Thursday that each had fired across the ceasefire line in eastern Ukraine. The escalating tensions reinforced gold’s investment appeal while dampening appetite for riskier assets.

“When times really get uncertain and anxiety is running high, gold is still the safe-haven asset to go to,” Jim Wyckoff, a senior analyst at Kitco Metals, said in a Reuters report.
DYNAMIC WEALTH RESEARCH

Analysis and insights into the newest trends and industries shaping the world and your wealth.

The world is more dynamic than at any time in History.
New Markets are opening up. Technology is accelerating. It’s changing everything.

And creating fortunes in the process.

Dynamic Wealth Research exposes the biggest and most profitable changes for our readers.
IMG
SHARE DYNAMIC WEALTH RESEARCH
© 2016 - 2024 DYNAMIC WEALTH RESEARCH, Privacy Policy, Disclaimer