BULLION’S APPEAL NOT LIMITED TO GEOPOLITICAL UNCERTAINTIES
K Raveendran
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2022-02-26 15:26
The Russian invasion of Ukraine has provided yet another instance of gold proving its safe haven value. As Russian forces entered Ukraine and pressed towards Kiev, gold price surged to an intra-day high of US$1,974 per ounce on Thursday, corresponding to Rs 52,797 per 10 grams on India’s MCX. Hectic buying was witnessed all across the world, accompanied by a strengthening dollar and crude oil well past the boiling point of $100 per barrel.