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GBUG - Energy Shock: Ukraine Crisis To Push Inflation Higher
BARCLAYS BANK PLC PACER IPATH GOLD ETNS MED TERM NT 06/10/2049
As Russia initiates military action in Ukraine, pain at the pump is about to get even worse. Fuel costs have already been soaring due to oil and gas supply constraints coupled with broader inflationary pressures.
Gold is gaining for a fourth straight week, with spot prices now up 1.2% since last Friday’s close to trade at $1,927 per ounce. Silver shows a weekly gain of 3.5% to come in at $24.83 an ounce.
A major surge in safe-haven demand from investors who had previously been on the sidelines could be the catalyst for an epic run-up in metals markets.