NEW YORK – Gold price today at Multi Commodity Exchange (MCX) ascended to its highest levels in 2022, according to media reports.
In spot market, gold price breached its $1925 hurdle and has hit $1950 per ounce levels, around 13 month high.
According to market experts, this sharp rise in yellow metal price is because of the escalating tension in Russia Ukraine crisis. They said that spot gold price has broken its $1935 per ounce hurdle and now it may soon go up to $1950, $1980 and then $2000 per ounce levels.
They said that Ukraine declared a state of emergency on Wednesday and told its citizens in Russia to flee, while Moscow began evacuating its Kyiv embassy in the latest ominous signs for Ukrainians who fear an all-out Russian military onslaught. So, speculations are high about Russia attacking Ukraine and hence demand for save haven has suddenly gone northward.
