Synopsis
Another commodity that has made a stunning surge is gold, the safe-haven commodity. On Monday, gold rose to more than $2,000 in Asian trade fears about the impact of the Ukraine war on the global economy. The precious metal hit a peak of $2,000.86 an ounce, its highest level since September 2020.
Russian President Vladimir Putin’s decision to invade Ukraine has roiled equity markets and sent shockwaves across the commodities market. Benchmark indices in India have slipped roughly 10% in the last month. In the US, S&P 500 posted its biggest drop since 2020 on Monday while the Nasdaq Composite Index has dropped more than 20% from a record to enter a bear market. Japan’s Nikkei closed at a 16-month low on Tuesday
On the commodities front,
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