As the Russia-Ukraine conflict Escalates, nearly $1 Trillion has been Invested in Gold in the Last 30 days

Gold price rises when the world situation is tense

As a result of Russia’s invasion of Ukraine, the gold prices rose to a 13-month high on February 24.

As tensions continue to rise, gold has seen a gradual influx into the asset in the last month. The gold price had risen 1.9% to $1,971.14 per ounce, its highest level since early January 2021.

According to Finbold data, the total market capitalization of gold is $12.494 trillion as of February 24, 2022, with a $1,967 price per ounce, up 2.96% on the day at the time of publication, according to CompaniesMarketCap statistics.

We were able to determine that the price of gold was $11.629 trillion $1,831 per ounce on January 21 using the Wayback Machine web archive tool. As tensions in Eastern Europe began to rise, a total of $0.87 trillion was infused into gold in the last 30 days.

Gold is viewed as a safe-haven asset in general, and its price has risen in response to rising geopolitical tensions between Russia and Ukraine.

It’s worth noting that Russia is one of the world’s largest gold producers. Additional sanctions imposed by the West on Russia could exacerbate the global supply chain’s problems.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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