The price of gold climbed above $2,000 on Monday, hitting its highest level in 17 months as Russia’s war on Ukraine intensifies fear and uncertainty in global markets.
Investors have been rushing to safe haven assets in precious metals, such as gold and silver, while commodity prices like crude oil and wheat are also on the rise.
Gold price climbed to as high as $2,007.10 per ounce earlier, reaching its highest level since Aug. 18, 2020, according to official figures. Gold was trading around $2,005 an ounce for a 2% daily gain around 1100 GMT. Price of silver jumped to $26.145 per ounce earlier, its highest since July 16, 2021.
It was around $26.02 an ounce with a 1.2% daily increase at the time. Oil prices also soared as the US Secretary of State Antony Blinken said on late Sunday that Washington and its allies are in active talks to ban Russian crude oil imports.—APP
