Gold futures rose during trading on Thursday as safe haven demand increased to rise for the fourth consecutive session, as investors sought safety in the metal as geopolitical uncertainty intensified with escalating tensions between Russia and Ukraine.
Tensions have escalated due to recent Russian nuclear threats, prompting investors to look for stable assets such as gold.
On Wednesday, Ukraine fired long-range weapons from the West for the second time, a day after President Putin approved an updated nuclear doctrine that expands the conditions for the use of nuclear weapons.
Russia also fired an intercontinental ballistic missile at Ukraine this morning, in addition, Russia fired a hypersonic ballistic missile and seven cruise missiles, the attack comes after Washington received a warning that Ukraine may be subjected to a major air strike, prompting the United States, Italy, Greece, Spain and France to close their embassies due to the growing threat.
On the other hand, the United States yesterday vetoed a UN resolution for a ceasefire in Gaza, raising concerns about the ongoing conflict in the Middle East.
