02/28/2022
Gold jumps to highest level in more than a year as Russia invades Ukraine
Spot gold slipped on Thursday as investors continued to asses the crisis in Ukraine, after Russian forces attacked the country on the orders of President Vladimir Putin.
Gold last traded at $1,897.76 per troy ounce, down 0.5% on the previous day. Earlier in the morning the precious metal was trading at $1,968.01 per ounce, up 3.17% and the highest since late 2020, as investors piled into safe-haven assets and equity markets globally tumbled into the red. Oil and soft commodity prices were sharply higher. Brent crude surpassed $100 for the first time since 2014.
U.S. gold futures were down 0.5% at $1,899.80 per ounce. Silver was down 1.5% at $24.13 per ounce, while palladium dipped 1.8%. Platinum fell about 3%. Meanwhile, copper was slightly higher.
Spot gold jumped more than 3% higher on Thursday as Russian forces attacked Ukraine on the orders of President Vladimir Putin.