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Gold rises above $2,000 an ounce on soaring Ukraine fears

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Thai goldsmiths examine gold ornaments sold by a customer during a trade at a gold shop in Chinatown, Bangkok, Thailand, 20 July 2020. Rungroj Yongrit, EPA-EFE/File" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/tvpatrol/03/07/chinatown,-bangkok,-thailand.jpg"/><figcaption>Thai goldsmiths examine gold ornaments sold by a customer during a trade at a gold shop in Chinatown, Bangkok, Thailand, 20 July 2020. Rungroj Yongrit, EPA-EFE/File</figcaption></figure></div><p>HONG KONG - Gold rose to more than $2,000 in Asian trade on Monday morning as investors fled to the safe-haven commodity over fears about the impact of the Ukraine war on the global economy.</p><p>The precious metal hit a peak of $2,000.86 an ounce, its highest level since September 2020.</p><p>Traders have been sent running to safety as Russia continues with its invasion of Ukraine, which has battered equity markets and sent oil prices to a near 14-year high, adding further upward pressure to already high inflation.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/02/24/22/fuel-flour-prices-seen-rising-due-to-ukraine-crisis">Fuel, flour prices expected to rise as Ukraine crisis continues</a></li>	<li><a href="https://news.abs-cbn.com/business/02/24/22/oil-from-worthless-in-the-pandemic-to-100-a-barrel">Oil&#x27;s journey from being worthless in the pandemic to $100 a barrel</a></li>	<li><a href="https://news.abs-cbn.com/business/02/27/22/ukrainian-oil-gas-facilities-burn-as-west-prepares-new-sanctions">Ukrainian oil, gas facilities burn as West prepares new sanctions</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe __idm_id__="6561793" allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1954084" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Gold rose to more than $2,000 in Asian trade on Monday morning as investors fled to the safe-haven commodity over fears about the impact of the Ukraine war on the global economy.