Gold prices witnessed a big jump today, with increased demand for safe havens, after Russia announced the entry of its forces into Ukraine and the start of a war that may extend to other parties in the region.
Amid these military clashes, investors' fears increased that the war would expand to include the European Union and the United States, which would have negative repercussions on commodity prices, metals and stock markets.
As a result of these fears, investors' demand for the yellow metal increased as the largest and most important safe haven in the world, causing the price of gold to jump during today's trading to its highest level in more than a year and a half.
Gold futures for April delivery rose 1.5%, or the equivalent of $29.30, to $1,939.7 an ounce.
The spot price of the precious metal also rose by 1.75% at the level of $ 1942.33, after it rose earlier today to $ 1949.03 an ounce, the highest level since January 2021.
Silver futures for May delivery rose 1.67%, or the equivalent of 41 cents, at $25.01 an ounce, and platinum rose by 1.01% to $1,105.98 an ounce, and palladium By 1.72% at $2,524.66.
