Gold drives to $2000 an ounce, oil breaks $130 a barrel – Kitco NEWS

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(Kitco News) – The Ukraine-Russia conflict continues to roil markets, with oil prices pushing to its highest level since 2008 and gold prices hitting $2,000 an ounce.

Oil prices have rocketed higher following the Asian open. While off their highs, April crude oil futures last traded at $122.79 a barrel, up 7% on the day. According to media reports, the Biden administration is in talks with European leaders to consider cutting off Russian crude oil exports.

The war in Eastern Europe is also driving safe-haven demand into gold as prices rise to their highest level since August 2020. April gold futures last traded at $2,001.80 an ounce, up 1.79% on the day.

Bitcoin is down relatively flat on the day, trading at $38,367 as of 9 p.m. ET.

Asian and Australian markets opened lower. The Hang Seng Index is off 2.72%. The S&P/ASX200 dropped 49.20 points or 0.69% to 7,061.60.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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