Gold glitters at highest since 2020 amid Russia-Ukraine crisis

Spot gold jumped as much as 3.4 per cent to $1,974.34 an ounce

Gold surged to the highest since 2020 after Russian forces attacked targets across Ukraine, triggering the worst security crisis in Europe since World War II and crushing risk sentiment. 

The move sparked a flight to haven assets, with European stocks and US futures dropping while Treasuries rallied. Gold jumped the most in almost two years, even as the dollar strengthened. Bullion priced in euros hit an all-time high.

Bullion has risen in recent weeks as Moscow’s standoff with the West intensified, helping to offset other headwinds like the US Federal Reserve’s policy tightening that was expected to weigh on the metal. Analysts