The yellow metal recorded increases of about 1% in the middle of trading today, Thursday, February 17, when it traded at levels of $ 1890 an ounce, recording its highest level since June of last year, benefiting from the rise in fears and anxiety in the markets after the rise in tensions between Russia and Ukraine again after it subsided since the beginning of the week .
Russian media had announced Thursday morning that Russian-backed rebels in eastern Ukraine accused the Kiev government forces of using mortar bombs to attack areas under their control, before the Ukrainian government denied the accusations.
The escalation of tensions between Russia and Ukraine and the rising expectations of the possibility of Moscow’s attack on Ukraine raise the volatility in the markets and support the rises of the safe havens that the yellow metal comes in the forefront.
Russia is an important figure in the world of energy and commodities in the world, as it owns about 13.23% of the world’s reserves of gold, 8.15% of copper reserves and 15% of global iron ore.
Therefore, any conflict that the Russian side is a party to raises the fears of the markets.
Silver, in turn, is trading at levels of $23.71 an ounce before the opening of the US markets, up by 0.71%.
Platinum is trading at levels of 1.075 dollars, an increase of about 1.34%, while palladium is rising by about 3%, when it is trading at levels of 2.347 dollars.
05/11/2024
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