Gold prices up | Sunday Observer

Gold prices up

27 February, 2022

Spot gold jumped as 2% higher on Thursday as Russian forces attacked Ukraine on the orders of President Vladimir Putin.

At 8:20 a.m. in London, gold was trading at $1,942.10 per ounce, up 1.88% on the previous day and the highest since late 2020, as investors piled into safe haven assets and equity markets globally tumbles into the red. Oil and soft commodity prices are sharply higher. International benchmark Brent crude surpassed $100 for the first time since 2014.

US gold futures were up 1.85% at $1,945.80 per ounce.

The price of gold is up about 8% in February thus far, on course for its biggest monthly gain since July 2020. US bond yields, which move inversely to prices, plunged as investors poured money into treasuries, also seen as safe assets. - CNBC

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