| 17 August 2022, Wednesday |

Gold prices hit 1-month high as Ukraine crisis dulls risk appetite

Gold prices surged to their highest level since mid-March on Monday, as the uncertainty surrounding the Russia-Ukraine crisis reduced risk sentiment and drove investors to the shelter of metal.

As of 0723 GMT, spot gold was up 0.8 percent at $1,989.65 per ounce, its best level since March 11. Gold futures in the United States were up 0.9 percent at $1,993.40 per ounce.

There appears to be some risk aversion in the market, with some carryover from the Russia-Ukraine crisis, according to Ilya Spivak, a currency strategist at DailyFX, who cautioned that tight liquidity might exaggerate price activity.

  • Reuters