Prices of precious metals jumped on Friday, with gold adding over 1% and silver surging near 2% and reaching a level last seen in August 2021, APA reports citing Teletrader.
The situation regarding the conflict in Ukraine and its possible repercussions for the world's economies seemingly increased the traders' appetite for safe-haven assets, like bullion.
Gold jumped 0.94% to $1,955.58 an ounce at 9:44 am ET, while silver soared 1.43% at the same time and sold for $25.55, after touching $25.67 per ounce a minute earlier. Platinum flew 2.33% to $1,108.04 at 9:46 am ET, and palladium skyrocketed 6.33% and went for $2,961.44 per ounce.