Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Gold Rush: Ukraine war pushes up global prices to $2K

Indo-Asian News Services
Updated: March 7th, 2022, 14:53 IST
in Business
0
Gold
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: Inflationary fears triggered a rush for safe haven investments during the ongoing market volatility that pushed up the global gold price to $2,000 per ounce Monday. Accordingly, the fears of supply shortages due to the Russian-Ukrainian conflict along with robust demand has kept prices higher.

Besides, sanctions on Russia, which is a major producer of Gold, is expected to reduce the supply.

Also Read

CITU Odisha

Odisha: CITU stages protest against 10-hour workday extension

1 day ago
Donald Trump

US to impose 25% tariffs on imported trucks from Nov 1: Trump

1 day ago

Last week, MCX gold prices increased sharply by 4.66 per cent to Rs 52,559 levels.

Besides, ‘Spot Gold’ prices increased by 4.30 per cent to $1,970.35 per ounce.

Notably, gold prices have increased by more than $40, accelerating a well-defined upward trend that began in the first week of March.

“Gold has risen above $2,000 an ounce on increased demand for safe-haven assets as investors assess the geopolitical and economic consequences of Russia’s invasion of Ukraine,” said Kshitij Purohit, Lead of Commodities and Currencies CapitalVia Global Research.

“There are numerous reasons to believe that gold will rise, not the least of which are geopolitical concerns. The crisis in Ukraine continues to produce a lot of anxiety, and as a result, people have been flocking to safety assets.”

According to Tapan Patel, Senior Analyst (Commodities), HDFC Securities: “The yellow metal rallied on geopolitical risk and inflation worries as Western world is mulling for harsher sanctions on Russia, including oil import ban.”

“We expect gold prices to trade up for the day with ‘COMEX’ Spot gold support at $1970 and resistance at $2,050 per ounce. MCX Gold April futures resistance at Rs 54,000 and support at Rs 52,800 per 10 gram.”

In addition, IIFL Securities VP, Research, Anuj Gupta said: “Geopolitical tension between Russia and Ukraine plays a supportive role for gold prices, however this environment is negative for global equity markets.”

“In spot gold may test $2,050 and Silver $27 levels very soon.”

 

Tags: GoldGold pricesUkraine crisisUkraine invasionUkraine war
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Akriti Negi

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Subhajyoti Mohanty

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar Ghibela

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019

Archives

Editorial

Military Rhetoric

October 8, 2025

I t is prudent for officials in high positions to speak with care and caution, for their words carry the...

Read moreDetails

Chinese H-1B

Pic- IANS
October 7, 2025

When US President Donald Trump’s administration in a new fiat, made the coveted H-1B visa available to foreigners at a...

Read moreDetails

Toxic Syrup

Cough syrup
October 6, 2025

Drug adulteration is a major scourge in India where an unholy nexus of the all-powerful pharma industry and unscrupulous doctors,...

Read moreDetails

List of Lowlights

October 5, 2025

At the end of every year, the organisation I represent puts out a report on human rights in India. This...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST