Gold Slips From Eight Month High As Safe Haven Demand Softens

Published on Feb 15, 2022 17:26

COMEX Gold futures fell today. The metal started session in an upbeat manner, extending its recent run as rising geopolitical tensions between Russia and Ukraine boosted the sentiments. COMEX Gold approached highest levels for the yellow metal in around eight months on these cues. However, safe haven demand softened on some easing of geopolitical tensions pertaining to the Ukraine pulled Gold down sharply. The metal currently quotes down 0.83% at $1854 per ounce. WTI Crude oil futures also tanked around 3% today, pulling back from seven year highs in afternoon trades. The US and UK leaders have said not all hope is lost for a diplomatic solution to the Ukraine crisis. Joe Biden and Boris Johnson agreed a deal was still possible despite warnings of imminent Russian military action