Gold Price On February 14, 2022: Yellow Metal Rises To 3-Month High Level Amid Ukraine Crisis

Gold prices on Monday, February 14, rose 0.8 per cent to nearly 3-month high of Rs 49,506 at the MCX while silver rose 1 per cent to Rs 63,630 per kg, as experts said that geopolitical tensions in Ukraine are likely to keep the prices of yellow metal high.

In global markets, spot gold was near 3-month highs of $1,859 per ounce. But gains were subdued because the dollar and safe-haven currencies held gains.

In the previous session, bullion prices hit the highest since November 19 at $1,865.15, in their biggest daily gain since mid-October.

US gold futures rose 0.9 per cent to $1,859.00 per ounce.

Russia could create a surprise pretext for an attack, the United States said on Sunday. However, Moscow denies any such plans and has accused the West of "hysteria", even as it has more than 100,000 troops massed near Ukraine, according to a Reuters report.

Meanwhile spot silver gained 0.7 per cent to $23.74 per ounce, while platinum was up 0.8 per cent at $1,036.14.