Tuesday, 5th May, 2026
Tuesday, 5th May, 2026

Gold rises above $2,000 an ounce on soaring Ukraine fears

Gold rose to more than $2,000 in

Asian trade on Monday morning as investors fled to the safe-haven commodity
over 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.

Traders have been sent running to safety as Russia continues with its
invasion of Ukraine, which has battered equity markets and sent oil prices to
a near 14-year high, adding further upward pressure to already high
inflation.