Gold prices rose to an 8-month high above $1,878 an ounce on Tuesday, as escalating tensions between Russia and the West over Ukraine drove investors out of riskier assets in favor of safe-haven bullion.<\/p>\n\n\n\n
Gold prices jumped to an eight-month high on Tuesday, February 15, as investors turned away from risky assets and turned to the precious metal, which is considered a safe haven, as tensions increased between Russia and the West over Ukraine.<\/p>\n\n\n\n
And gold rose in immediate transactions 0.4% to $ 1877.96 an ounce at 06:39 GMT, after hitting its highest level since June 11, reaching $ 1879.48.<\/p>\n\n\n\n
Gold rose 0.6% in US futures contracts to $ 1880.20 an ounce.<\/p>\n\n\n\n
The precious metal got more support with the decline in US Treasury yields for ten years, which lowers the opportunity cost of holding non-yielding gold.<\/p>\n\n\n\n
The dollar fell slightly while supporting the attractiveness of gold for buyers holding other currencies.<\/p>\n\n\n\n
The price of silver in spot transactions fell 0.2% to $23.79 an ounce, while platinum fell 0.1% to $1026.86, and palladium fell 0.4% to $2,349.82.<\/p>\n\n\n\n
US Secretary of State Anthony Blinken ordered the closure of the US embassy in Kiev and urged Americans to leave Ukraine, citing a rapid build-up of Russian forces near the border.<\/p>\n\n\n\n
The precious metal is seen as a hedge against geopolitical conflicts.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose to an 8-month high above $1,878 an ounce on Tuesday, as escalating tensions between Russia and the West over Ukraine drove investors out of riskier assets in favor of safe-haven bullion. Gold prices jumped to an eight-month high on Tuesday, February 15, as investors turned away from risky assets and turned to …<\/p>\n","protected":false},"author":9,"featured_media":59584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[8598,6874,7561,6984,6871],"class_list":["post-60229","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-correction","tag-gold","tag-resistance","tag-treasury-yields","tag-usd"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=60229"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60229\/revisions"}],"predecessor-version":[{"id":60236,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60229\/revisions\/60236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/59584"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=60229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=60229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=60229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}