Gold rising further amid continued demand over geopolitical situation

Gold prices rose on March 4 morning amid investor demand for safe-haven assets due to geopolitical risks, Report informs referring to the auction data.

Thus, the price of the April gold futures on the New York Comex exchange rose by $5.6, or 0.29%, to $1,941.5 per troy ounce. May futures for silver rose 0.42% to $25.317 an ounce.

Against the backdrop of escalating tensions between Russia and Ukraine, investors continue to turn to more reliable assets, and gold is traditionally considered as a safe haven.

The uncertainty surrounding the conflict-hit investor confidence hard, giving the precious metal underlying support, according to Oanda analysts, quoted by the Wall Street Journal.