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Gold rising further amid continued demand over geopolitical situation
Finance
- 04 March, 2022
- 06:54
Gold prices rose on March 4 morning amid investor demand for safe-haven assets due to geopolitical risks, Report informs referring to the auction data.
Thus, the price of the April gold futures on the New York Comex exchange rose by $5.6, or 0.29%, to $1,941.5 per troy ounce. May futures for silver rose 0.42% to $25.317 an ounce.
Against the backdrop of escalating tensions between Russia and Ukraine, investors continue to turn to more reliable assets, and gold is traditionally considered as a safe haven.
The uncertainty surrounding the conflict-hit investor confidence hard, giving the precious metal underlying support, according to Oanda analysts, quoted by the Wall Street Journal.
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