Gold higher as Russia-Ukraine war enters second month

3.25.22 - US Energy and the Economy - 3 Key Facts to Know

Gold last traded at $1,953 an ounce. Silver at $25.40 an ounce.

NEWS SUMMARY: Precious metal prices steadied Friday following recent safe-haven buying gains. U.S. stocks traded mixed amid downbeat housing data and a volatile week of trading.

Marketwatch--"Gold prices rose Thursday as investors monitored developments around Russia's invasion of Ukraine and hawkish remarks by Federal Reserve officials.

President Joe Biden met Thursday with leaders of the North Atlantic Treaty Organization, the first of a series of meetings with European allies and other world leaders in response to Russia's Feb. 24 invasion of Ukraine. Biden and U.S. allies are expected to roll out further rounds of sanctions against Moscow....

'As the safe-haven trade that propelled the price of the precious metal to above $2,000 per ounce earlier in the month eases, traders' expectations over what the Fed will do over the next few months comes once again under the spotlight,' said Ricardo Evangelista, senior analyst at ActivTrades.

Fed officials this week have signaled they're prepared to raise rates even more quickly than previously expected. Fed Chairman Jerome Powell on Monday said the Fed could move rates up by more than a quarter point at future meetings if deemed necessary. Other Fed officials have echoed Powell, pushing up expectations for a half-point increase at the next policy meeting in May."