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Gold Dealers Swamped by Demand as War Creates Inflation Scare

  • Gold flirts with levels reached during Covid-19 pandemic
  • Retail investors are snapping up the metal across the globe
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Gold Prices to Keep Rising Through Second Quarter: Standard Chartered

Gold is playing its age-old role as a safe haven in times of wars and crises, and people all over the world are piling in.

Russia’s invasion of Ukraine has sent the price of everything from oil and gas to wheat and metals skyrocketing, sparking inflation fears and threatening global growth. That’s driving retail investors everywhere from Vienna and Singapore to New York to the safety of gold, which spiked to $2,070.44 an ounce, close to the record reached during the pandemic.