The price of precious metals grew on Monday as mounting geopolitical tensions appeared to have increased the appetite for safe-haven assets.
Ukrainian forces are confirmed to have made a surprise incursion into border regions in Russia last week, seemingly raising concerns about the further escalation of the conflict which started in February 2022. Ukrainian President Volodymyr Zelensky earlier noted that Kiev is awaiting approval from Washington, London, and Paris to use their long-range capabilities on Russian territory. Pentagon previously underlined that Ukraine's operation in Russia's Kursk region was "consistent" with Washington's policy, while Moscow ordered the evacuation of another region, Belgorod, near its border with Ukraine amid the growing turmoil.
Silver rose 1.65% to trade at $27.90 per ounce at 3:40 am CET. Palladium grew 0.94% to $905.62 per ounce and platinum climbed 1.07% to $935.80 per ounce. Gold added 0.36% to sell at $2,439.00.