Gold advances sharply as Russia invades Ukraine
‘Seismic’ market reaction pushes capital into precious metals, commodities

(USAGOLD โ€“ 2/24/2022) โ€“ Gold advanced sharply in overnight trading as Russia launched a full-scale invasion of Ukraine. It is up $61 at $1971. Silver is up 87ยข at $25.47. Energy, base metal, and key agricultural commodity prices all pushed significantly higher, igniting serious concerns about the global inflation rate โ€“ a prospect likely to factor into market dynamics for some time to come. Contributing to the flow of capital into safe-havens, gobal stock markets plunged with some European bourses dropping nearly 5% as this report is posted.

“The market reaction to these developments has been seismic,” Deutsche Bank’s Jim Reid told Markets Insider this morning. “A significant way the events in Ukraine will affect the rest of the world is regarding inflation, and even before we saw $100 a barrel oil overnight, that relentless rise in commodities showed no sign of abating.”

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