Gold surged to an eight-month high on Tuesday as the geopolitical tensions between Russia and Ukraine escalated, Reuters reported.
According to the report, gold prices soared 0.4 per cent at $1,877.96 per ounce, compared to its highest level since June 11 2021, when the price of the precious metal was at $1,879.48. Notably, the price of US gold futures was up 0.6 per cent to $1.880.20.
Meanwhile, spot gold has risen 5 per cent since January 31.
Analysts expect the gold prices to top out around $1,920-$1,930. Silver, however, slipped 0.2 per cent to $23.79 per ounce, and platinum eased 0.1 per cent to $1,026.86.
Rupee also slipped 12 paise settling at 75.72 against US Dollar during early trade on Tuesday, amid heightened geopolitical tensions between Russia and Ukraine.