Gold rises to five-week high with growing risks boosting havens

Gold rose to a five-week high as the war in Europe, elevated inflation, and the risk of a US recession boosted demand for the haven asset.
 

The precious metal climbed as much as 0.8 per cent after capping a second weekly gain. Spot gold rose 0.8 per cent to $1,993.33 an ounce as of 10.42 am in London, after touching the highest intraday level since March 11 earlier.
 

The possibility of a EU embargo on Russian gas and the threat of some curbs on crude in Europe’s next sanctions package bolstered both commodities. That’s adding to already elevated raw material