Gold rises after Putin escalates the Ukraine war

Gold futures closed higher on Wednesday (Sept. 21), driven by investors buying gold as a safe haven after Russian President Vladimir Putin announced a mobilization of troops to escalate the war with Ukraine.

  • The gold futures were up $4.6, or 0.28%, at $1,675.7 per ounce.
  • Silver futures were up 29.7 cents, or 1.55%, at $19.48 an ounce.
  • The platinum contract was down $6.8, or 0.74%, at $916 an ounce.
  • The palladium was down $47, or 2.2%, at $2,123.50 an ounce.

Russian President Vladimir Putin yesterday announced the mobilization of 300,000 troops to escalate the war with Ukraine. It was the first mobilization of Russian troops since the Second World War.

The report said Russians poured out of the country in droves after the mobilization was announced. Citizens are concerned that the government may impose a ban on able-bodied men leaving the country or call up more conscripts. This led to Russians flocking to the Aviasales website to buy airline tickets and leave the country.

The Spot Market is Open

Thursday, September 22, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
11.00
1,660.70
1,661.70
-13.00
-0.78%
1,656.50
1,674.80
Silver
11.00
19.35
19.45
-0.20
-1.05%
19.23
19.65
Platinum
11.00
902.00
912.00
-6.00
-0.66%
898.00
919.00
Palladium
10.00
2,074.00
2,224.00
-16.00
-0.77%
2,070.00
2,230.00
Rhodium
05.00
12,500.00
14,500.00
0.00
0.00%
12,500.00
14,500.00

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