Gold Futures Rise More Than 2%, Brent Oil Reaches $100 After Start of Russian Military Operation

Gold futures rise more than 2% after Russia fires missiles at Ukrainian cities.

Spot gold prices rose 1.9% to $1943.86 an ounce, the highest level since early January 2021.

Gold futures rose 2% to $1,949.20 per ounce.

The price of gold jumped after it was announced that Russian forces had shelled Ukrainian cities with missiles and deployed troops on Russia’s southern coast on the border with Ukraine. This was after President Vladimir Putin authorized the start of military operations in eastern Ukraine.

In a tweet, Ukrainian Foreign Minister Dmitro Kuleba stated, “Russia has launched a large-scale invasion of Ukraine and targeted armed attacks against Ukrainian cities.”

Oil prices rose more than 4% after Russia announced a special military operation in the Donbas region of eastern Ukraine.

Brent crude oil futures rose 4.69% to $101.93 a barrel. It climbed above the $100 per barrel mark for the first time since 2014.

WTI crude futures rose 4.73% to $96.46 a barrel.

Natural gas contracts rose 4.7%.

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