Gold price surges on stagflation fears as attack on Ukraine intensifies



As Russia’s invasion of Ukraine intensified this week, gold spiked to $1,970 an ounce. New sanctions against Russia triggered massive jumps in commodity prices as well. Wheat is up about 40% on the week, palladium is up 22%, and oil is up 20%.

Fears of stagflation also started to creep in, with concerns over high commodity prices impacting inflation and slowing growth. Here’s a look at Kitco’s top three stories of the week:

3. ‘Everything is so uncertain’: Fed is worried Ukraine war could push inflation higher, slow growth, says Powell
https://www.kitco.com/news/2022-03-03/-Everything-is-so-uncertain-Fed-is-worried-Ukraine-war-could-push-inflation-higher-slow-growth-says-Powell.html

2. Is Russia’ panic gold buying’? And is panic-selling about to kick in?
https://www.kitco.com/news/2022-03-01/Is-Russia-panic-gold-buying-And-is-panic-selling-about-to-kick-in.html

1. Gold price to hit $2,150 on Russian invasion, ‘very high inflation path’ – Goldman Sachs
https://www.kitco.com/news/2022-02-28/Gold-price-to-hit-2-150-on-Russian-invasion-very-high-inflation-path-Goldman-Sachs.html
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