Gold Prices Rise Amid Geopolitical Tensions

The price of gold per troy ounce has reached $1900.70 in Comex auctions as of 20:30 Moscow time, according to Kommersant. The reported 1.56% increase is linked to the heightened tensions surrounding Ukraine.

According to exchange data, gold was last valued at over $1900 per troy ounce on June 11, 2021. Today, the head of the OSCE Special Monitoring Mission in Ukraine, Yashar Halit Chevik, announced that the mission recorded 500 explosions in the contact line in Donbas within a single day.

Western countries have reported that Russia is preparing for a military incursion into Ukraine, although the Kremlin has repeatedly denied these plans. Politico has indicated that Russia is expected to launch an attack on Ukraine “after February 20.” The press secretary for the Russian president called this a “new hoax.” No invasion took place on the previously predicted date for the start of the “war,” February 16.