Feb 15 (Reuters) - Gold prices climbed to an eight-month high on Tuesday,
as heightened tensions between Russia and the West over Ukraine prompted
investors to shun riskier assets and opt for safe-haven bullion.

https://www.reuters.com/markets/europe/gold-near-3-month-high-ukraine-crisis-lifts-safe-haven-appeal-2022-02-15/

Spot gold was up 0.4% at $1,877.96 per ounce, as of 0639 GMT, after
hitting its highest level since June 11 at $1,879.48 earlier. U.S. gold
futures rose 0.6% to $1,880.20.

Due to the Ukraine crisis, gold is supported through the inflation channel
because of higher crude oil prices and through the risk aversion channel
because of lower stocks, said Stephen Innes, managing partner at SPI Asset
Management. read more

"If we lose that Ukraine impulse, then gold comes off quite quickly."

Bullion is usually perceived as a hedge against geopolitical conflicts,
and with simmering tensions surrounding Ukraine, spot gold has risen about
5% since Jan. 31 and is set for a tenth session of gains in 12.

"The (gold) market seems to be ignoring major central banks right now
because investors are lost in the fog of war and it becomes very difficult
to have a salient macro or fundamental view in this type of market where
you really have to just go trade on a hair trigger," Innes said. read more

Further supporting bullion, benchmark U.S. 10-year Treasury yields eased,
decreasing the opportunity cost of holding non-interest-paying gold, while
a slightly weaker dollar helped make the metal more attractive for
overseas buyers.

If Russia further reduces gas supply into Europe, leading to higher energy
prices across the board, that will be a positive for gold, said David
Mitchell, managing director at Indigo Precious Metals.

"I do however expect gold to top out around $1,920-$1,930 roughly."

### - place yer bets?

i.e., with 40+ billion wiped-off the uk market yesterday (went 52 billion
down at one point) at the rate gold's steadily climbed over the last 3
days to hit this 8 month high, could easily exceed those upper numbers
just in the next couple days?

plus if anything happens in ukraine, anything at all, all doubt/hedging
will end, the currently jittery crowd will turn en-mass... and then it's
gonna spike big-time!

any guesses/bets then on its upper limit?

hmm that's a difficult one... 2500-2700 not being unthinkable!

even higher if'n it starts getting ugly out there...

it all depending NOW on whether putin sends SOME of those troops home or
not?

(has implied he's gonna, so let's see...)

On Tue, 15 Feb 2022 08:53:13 -0000, slider <slider@anashram.com>
wrote:

>Feb 15 (Reuters) - Gold prices climbed to an eight-month high on Tuesday,
>as heightened tensions between Russia and the West over Ukraine prompted
>investors to shun riskier assets and opt for safe-haven bullion.
>
>https://www.reuters.com/markets/europe/gold-near-3-month-high-ukraine-crisis-lifts-safe-haven-appeal-2022-02-15/
>
>Spot gold was up 0.4% at $1,877.96 per ounce, as of 0639 GMT, after
>hitting its highest level since June 11 at $1,879.48 earlier. U.S. gold
>futures rose 0.6% to $1,880.20.
>
>Due to the Ukraine crisis, gold is supported through the inflation channel
>because of higher crude oil prices and through the risk aversion channel
>because of lower stocks, said Stephen Innes, managing partner at SPI Asset
>Management. read more
>
>"If we lose that Ukraine impulse, then gold comes off quite quickly."
>
>Bullion is usually perceived as a hedge against geopolitical conflicts,
>and with simmering tensions surrounding Ukraine, spot gold has risen about
>5% since Jan. 31 and is set for a tenth session of gains in 12.
>
>"The (gold) market seems to be ignoring major central banks right now
>because investors are lost in the fog of war and it becomes very difficult
>to have a salient macro or fundamental view in this type of market where
>you really have to just go trade on a hair trigger," Innes said. read more
>
>Further supporting bullion, benchmark U.S. 10-year Treasury yields eased,
>decreasing the opportunity cost of holding non-interest-paying gold, while
>a slightly weaker dollar helped make the metal more attractive for
>overseas buyers.
>
>If Russia further reduces gas supply into Europe, leading to higher energy
>prices across the board, that will be a positive for gold, said David
>Mitchell, managing director at Indigo Precious Metals.
>
>"I do however expect gold to top out around $1,920-$1,930 roughly."
>
>### - place yer bets?
>
>i.e., with 40+ billion wiped-off the uk market yesterday (went 52 billion
>down at one point) at the rate gold's steadily climbed over the last 3
>days to hit this 8 month high, could easily exceed those upper numbers
>just in the next couple days?
>
>plus if anything happens in ukraine, anything at all, all doubt/hedging
>will end, the currently jittery crowd will turn en-mass... and then it's
>gonna spike big-time!
>
>any guesses/bets then on its upper limit?
>
>hmm that's a difficult one... 2500-2700 not being unthinkable!
>
>even higher if'n it starts getting ugly out there...
>
>it all depending NOW on whether putin sends SOME of those troops home or
>not?
>
>(has implied he's gonna, so let's see...)

So you're going to spend your welfare check on gold? Won't leave much
over for rent and food