from Dollar Collapse
There is strong momentum in the gold space as investors repositioned themselves going into another uncertain weekend with all eyes on Russia’s intensified attack on Ukraine.
Gold gained more than $35 on Friday as Russian forces took control over Europe’s biggest nuclear power plant in Ukraine in a very alarming assault.
“Unfortunately, there are no signs that you are going to see a de-escalation of the war in Ukraine any time soon. As we take a look at the impact that is having on the global economy, you’ll see global growth concerns and inflationary pressures become dominant themes,” OANDA senior market analyst Edward Moya told Kitco News. “That will likely lead to further safe-haven flows, and gold is going to shine.”