Gold rising in price as investors avoid risk

Gold prices rose on February 14, as investors prefer to refrain from risky assets amid geopolitical tensions, Report informs.

The price of April gold futures on the Comex New York stock exchange rose by $12.2, or 0.67%, to $1,854.35 per troy ounce. March silver futures rose 1% to $23.602 an ounce.

Due to geopolitical tensions, investors prefer to purchase the precious metal as a safe-haven asset. According to analysts, the prices of precious metals were buoyed by geopolitical risks.

On February 14, German Chancellor Olaf Scholz will discuss the situation on the border with Russia, as well as economic cooperation in Kyiv at talks with Ukrainian President Volodymyr Zelensky. Later, on February 15, Scholz will leave for Moscow to meet with Russian President Vladimir Putin. If Scholz doesn’t signal a reduction in tension, gold prices may rise to $1,900 an ounce.