Highlights

  • Gold futures touched $1,900 per ounce
  • Crude prices jumped 3% to $93

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Russia-Ukraine crisis: Gold touches nine-month high; crude oil jumps

Putin ordered the Russian army to launch a 'peacekeeping operation' in parts of eastern Ukraine

Russia-Ukraine crisis: Gold touches nine-month high; crude oil jumps

Demand for safe-haven rises as gold touched a nine-month high amid rising tensions between Russia and Ukraine.

Spot gold was up 0.2% at $1,909.54 per ounce, the highest level since May 2021.

Russian President Vladimir Putin recognised two breakaway regions in eastern Ukraine as independent and ordered the Russian army to launch a 'peacekeeping operation' into the area, accelerating a crisis the West fears could unleash a major war.

Also read/watch: Russia claims attack on its border post, Ukraine rubbishes it as fake news

Crude oil jumped as the West Texas Intermediate (WTI) futures were up more than 3% at $93.

Also read/watch | Ukraine-Russia conflict: Financial markets fear aftershock

Frequently Asked Questions

The rise in gold prices is due to increased demand for safe-haven assets amid rising tensions between Russia and Ukraine.

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