August 14, 2022

Dubai Week

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Gold has risen more than 2% since the start of the Russian invasion of Ukraine

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Following the invasion of Ukraine by Russian forces, the price of gold rose by more than 2% following the order of President Vladimir Putin to carry out what he described as a special army, as investors turned to safer havens. surgery.

At 0611 GMT, gold spot transactions rose 1.7 percent to $ 1939.97 an ounce, the highest level since January 2021 at $ 1948.77 an ounce.

US gold futures rose 1.8 percent to $ 1,943.90 an ounce.

Authorities and media reported that Russian forces fired missiles at several cities in Ukraine and landed troops on the country’s southern coast.

Gold, which has been a safe haven in times of turmoil, has risen about 8 percent since the beginning of February, and the impact of the Russia-Ukraine crisis is at stake. Precious metal aims to record its best monthly performance since July 2020.

Among other currencies, silver rose 2.1 percent to $ 25.03 an ounce in spot trading. Platinum was up 1 percent at $ 1,102.43 an ounce and Palladium was up 1.3 percent at $ 2,514.54.

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