Gold Surges With Rising Global Tensions Boosting Haven Demand

Gold surged on revived demand for safer assets as the US and China traded accusations, while a dramatic series of attacks clouded the prospects of peace between Russia and Ukraine.

Bullion climbed as much as 2.7% after Russia and Ukraine wrapped up a second round of talks in Istanbul that failed to bring the two sides closer to ending the war. The precious metal earlier was boosted after Ukraine staged drone strikes across Russia on Sunday, while Moscow launched one of its longest attacks against Kyiv.