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Gold closed above $ 2,000 for the first time since August 2020

Gold traded higher on Tuesday, completing four consecutive uptrends, with the precious metal closing above the $ 2,000 psychological level for the first time since August 2020.

In particular, the April delivery of gold earned $ 47.40 or 2.4% and closed at $ 2,043.30 per ounce, having climbed to $ 2,078.80 during the day high. Gold thus approached its previous record high of August 6, 2020 at $ 2,069.40.

The escalation of tensions in Western-Russian relations following the unprovoked and unwarranted military invasion of Ukraine by Moscow has rekindled interest in the precious metal, which is considered a safe haven in times of heightened uncertainty.

Source: Capital

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