(Kitco News) – Comex gold on Tuesday morning scored an all-time record high of $2,074.60, basis nearby futures, as of this writing. The previous record high was hit in June of 2020, at $2,063.00. With the yellow metal reaching new heights, traders can expect bigger daily price moves in the near term. Gold traders will continue to react to the latest news headlines regarding the Russia-Ukraine war. Any de-escalation in the conflict would likely send gold prices sharply lower. However, the precious metals market bulls have an ace up their sleeve that will work in their favor even if the Russia-Ukraine situation does stabilize (which seems a long way off at present) and that’s inflation worries. Rising and even problematic global inflation is likely to continue to attract investor demand into hard assets like the metals in the coming months. April Comex gold was last up $73.50 at $2,069.60.
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