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Gold Saw $100 Price Swings on Russia's Invasion of Ukraine

Derek Wolfe

Updated: March 4, 2022

hold gold back
Editor’s Note:

EDITOR'S NOTE: If you’re attempting to trade gold amid the fluid uncertainties of the Russia-Ukraine war, it might be wise to follow the technicals surrounding price action. Gold price swings are very volatile in the short term, considering everything that’s going on. Case in point: the yellow metal dramatically shed $90 last week when NATO countries showed restraint from excluding Russia from the SWIFT system. That dramatically reversed a few days later when NATO decided to go ahead with the SWIFT ban. This is just one factor among many that all but guarantee a wild ride in gold, especially if you’re seeking to exploit the price action for short-term profit. From a longer-term perspective, however, gold is likely to rise much further, according to Kitco’s Anna Golubova. This prompts quite a few questions: what of silver and palladium? And how might the metals respond to the upcoming Fed rate hikes? All of these questions (and more) are answered in the video; certainly something you don’t want to miss.

Gold saw $100 price swings on Russia's invasion of Ukraine. In an initial reaction, gold hit the highest levels since September 2020 but could not hold the gains. After markets received some clarity around new Russia sanctions, gold dropped back below the $1,900 an ounce level. Here's a look at Kitco's top three stories of the week:

3. Dramatic price swings: Gold price sheds $90, silver price sees sharp reversal as analysts warn of more volatility to come

2. Watch palladium, gold, and silver prices as the West sanctions Russia in response to the Ukraine crisis

1. Gold's path to $2k: Fed rate hikes won't hurt gold price rally this year, says Wells Fargo

By Anna Golubova

Originally posted on Kitco News.


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