FX.co ★ If there is war tomorrow? Fear of an attack on Ukraine drove up the price of gold

Every day the Russian-Ukrainian conflict flares up with greater force. On Friday, the White House statement added fuel to the fire that Moscow could attack Ukraine any day

On the evening of February 11, American officials recommended that US citizens urgently leave the territory of Ukraine. According to the West, there is now a high probability of Russia's invasion of the Black Sea Republic at any moment.

The alarming comment immediately raised the quotes of protective assets, including gold. Late on Friday evening, precious metal prices soared sharply, ramming through the key resistance at $1,850.

Bullion also met the new working week with steady growth. At the time of preparation of the material, gold futures were trading at $1,859. They rose 0.9% compared to Friday's close, when they rose 0.26%.

In general, over the past week, the value of the precious metal has risen by 1.9%. Expectations of January inflation data in the United States contributed to the positive dynamics.

As for the beginning of the current seven-day period, the main price-forming factor in the gold market remains geopolitical risks.

On Sunday, the United States said that Russia could create an unexpected pretext for invading Ukraine. In turn, the Kremlin denied this possibility and accused the American side of hysteria.

Nevertheless, another escalation of the conflict led to strong volatility on the Asian stock market on Monday morning. The drop in demand for risky assets caused an increase in appetite for gold.

At the beginning of the day, the yellow asset approached the highest value for three months. Analyst Philip Nova believes that its further dynamics depends on two upcoming meetings.

Today, German Chancellor Olaf Scholz will discuss the situation with Ukrainian President Vladimir Zelensky, and his talks with Russian President Vladimir Putin are scheduled for tomorrow.

If, following the results of the meetings, the German politician does not signal a reduction in tension, this will serve as another impetus for the growth of prices for precious metals. According to the expert, in the near future, the quotes may jump to $1,900.