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Gold rises with Russia-Ukraine situation in focus

Spot gold rose 0.3% to $1,909.06 per ounce by 0204 GMT. U.S. gold futures fell 0.8% to $1,910.70.

February 25, 2022 / 08:19 AM IST
Gold, Gold Prices, Gold Rates

Gold, Gold Prices, Gold Rates

Gold prices rose on Friday, steadying after a volatile session, as investors reassessed the situation surrounding Russia's invasion of Ukraine and fresh sanctions against Moscow from the West.


* Spot gold rose 0.3% to $1,909.06 per ounce by 0204 GMT. U.S. gold futures fell 0.8% to $1,910.70.

* The metal jumped more than 3% on Thursday to hit its highest level since September 2020 at $1,973.96, before reversing course to close lower.

* On Friday, Ukrainian President Volodymyr Zelenskiy vowed to stay in Kyiv as his troops battled Russian invaders who are advancing toward the capital in the biggest attack on a European state since World War Two.


* Commodity prices jumped to multi-year highs on Thursday, buoyed by prospects of tighter supplies due to the possibility of more sanctions on Russian exports, transport disruptions and Moscow withholding supplies.

* U.S. President Joe Biden hit Russia with a wave of sanctions, measures that impede Russia's ability to do business in major currencies, along with sanctions against banks and state-owned enterprises.

* Exchange-traded funds (ETFs) that invest in gold and other precious metals have seen massive inflows as investors rush to shield themselves.

* Palladium prices are up nearly 28% this year, while gold has gained about 4.5%.

* Auto-catalyst metal palladium gained 1.4% to $2,435.77, after reaching its highest level since July 2021 at $2,711.18 on Thursday.

* Russia's Nornickel is a major producer of palladium and platinum, which are both used in catalytic converters to clean car exhaust fumes.

* Spot silver rose 0.5% to $24.33 per ounce, platinum was up 0.4% to $1,061.40.

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first published: Feb 25, 2022 08:19 am
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