Gold: At a high of about 14 months after the Russian invasion – Gains of 2.4% palladium

Gold closed with gains on Thursday, as Russia’s invasion of Ukraine boosted demand for the precious metal, sending prices to their highest level since January 5, 2021.

Clashes between the Russian and Ukrainian armies are raging, as Moscow forces have invaded Ukrainian territory from all sides since morning and besieged Kiev, while at 7 p.m. (Greek time) the Kremlin announced that Moscow is willing to negotiate the terms of delivery of Kiev.

Kiev is under siege with the front of the Ukrainian capital being crucial. Russian forces say they have captured the Antonov military airport in Gostomel, about 40 kilometers (25 miles) from Kiev, a move acknowledged by Ukrainian President Volodymyr Zelensky, who has vowed to retake it.

The Chernobyl nuclear power plant has been occupied by Russian forces, said Mikhail Pontoliak, an adviser to the Ukrainian president’s office, on Thursday afternoon.

According to Reuters, the Ukrainian officials said that “it is impossible to say that the Chernobyl nuclear power plant is safe after a completely pointless attack launched by the Russians.”

“If Russia extends its invasion beyond Ukraine and engages in a battle with NATO forces in the Baltic or Poland, gold is likely to exceed $ 2,000 in a day – and most likely to $ 2,200, both because of interest in safe havens as well as the lack of sellers, “said Jeff Wright, chief investment officer at Wolfpack Capital.

In this climate, the gold April delivery was $ 15.90, or 0.8%, to $ 1,926.30 an ounce, and a 17-month high (from September 202) to $ 1,976.50, according to Dow Jones Market Data.

The palladium June, given the risk for supplies from Russia, the largest producer of the metal, rose 2.4% to $ 2,501.90 an ounce.

As for the other metals, the platinum April delivery fell 2.7% to $ 1,062.10 an ounce. The silver March delivery increased about $ 0.6% to $ 24.687 an ounce, while the May delivery contract for copper lost 0.6% to $ 4,461 an ounce.