Gold prices edged higher on Wednesday as concerns of an escalation in the Russia-Ukraine conflict increased safe-haven bids for the precious metal, although a firmer U.S. dollar capped bullion’s gains.
Spot gold was up 0.2% at $1,970.21 per ounce, as of 0748 GMT, after hitting a near one-month peak of $1,978.21 on Tuesday. U.S. gold futures were down 0.3% at $1,970.80.
“Gold is benefiting from some safe-haven demand this week as inflation fears grow, China growth stumbles and the war in the Ukraine gets set for round two,” said OANDA senior analyst Jeffrey Halley.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.