INSUBCONTINENT EXCLUSIVE:
The precious metals market witnessed a notable uptick this week, with gold futures marking their fifth consecutive session of growth.The
surge in gold prices reflects the ongoing geopolitical unrest, particularly the escalating conflict between Ukraine and Russia.Gold futures
for December delivery climbed 1.39% to $2,712.20 per troy ounce on the Comex division of the New York Mercantile Exchange
as a safe-haven asset during times of uncertainty
Investors often turn to gold when geopolitical tensions rise, seeking stability in turbulent markets.Recent developments have fueled
concerns about the Ukraine-Russia conflict
A high-ranking South Korean official reported that Russia supplied air defense missiles to North Korea
(Photo Internet reproduction)Ukraine plans to meet with NATO in Brussels next Tuesday
Amid Geopolitical TensionsThese events have reignited interest in gold as a hedge against geopolitical risks
The precious metal has recovered more than half of its losses since its record high in late October.Analysts at Commerzbank note that the
threat of escalation in Ukraine is driving demand for safe-haven assets
They point to significant inflows into gold ETFs in recent days as evidence of this trend.Swiss gold export data for October reveals weak
demand in Asia but increasing interest in Western countries
climb further would be a significant price signal
He notes that the downward correction in early November was ultimately shallow.If gold can quickly recover its previous highs, Kuptsikevich
believes the long-term target could reach $3,400 per troy ounce
This projection underscores the potential for continued growth in the gold market.As geopolitical tensions persist, investors and analysts
will closely monitor gold prices
