Gold prices skyrocket amid Russia-Ukraine conflict

Gold advanced to the highest level in more than a year as tensions around Ukraine intensified, boosting demand for the haven asset.

Bullion is being buoyed by the growing crisis in Eastern Europe, with gold burnishing its credentials as a store of value in times of geopolitical upheaval.

Spot gold rose as much as 1 per cent to $1,928.80 an ounce, the highest level since January 2021, and traded at $1,924.76 at 11:12 a.m. in Singapore.

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