Last week, gold prices soared by over 5%, significantly outpacing the growth seen in U.S. stock markets. This substantial increase is catching the attention of investors, as it highlights gold’s enduring appeal as a safe haven, especially amid escalating tensions between Russia and Ukraine. The global wealth management team at UBS Financial points out that gold continues to shine as a favored hedge in times of international unrest.
On Friday, December gold futures were valued at $2,708 per ounce, inching closer to the high of $2,800 reached late in October. This represents a robust weekly rise of more than 5%, compared to the S&P 500, which only managed a 1.6% increase during the same period.
