KONTAN.CO.ID - LONDON. Gold prices hit a one-month high on Wednesday, as the Russia-Ukraine conflict boosted demand for safe-haven bullion while investors also bought it as a cushion against soaring inflation. Spot gold rose 0.5% at $1,977.24 per ounce, as of 1127 GMT, after touching its highest since March 14 at $1,979.95. U.S. gold futures were up 0.2% at $1,979.20. Safe-haven bids due to the Ukraine crisis and inflation concerns are supporting gold and could continue to do so, said Michael Hewson, chief market analyst at CMC Markets UK, adding prices could revisit $2,000 an ounce in the next few days.
Gold Hits 1-Month Peak as Ukraine, Inflation Lift Appeal
KONTAN.CO.ID - LONDON. Gold prices hit a one-month high on Wednesday, as the Russia-Ukraine conflict boosted demand for safe-haven bullion while investors also bought it as a cushion against soaring inflation. Spot gold rose 0.5% at $1,977.24 per ounce, as of 1127 GMT, after touching its highest since March 14 at $1,979.95. U.S. gold futures were up 0.2% at $1,979.20. Safe-haven bids due to the Ukraine crisis and inflation concerns are supporting gold and could continue to do so, said Michael Hewson, chief market analyst at CMC Markets UK, adding prices could revisit $2,000 an ounce in the next few days.