Gold soared well above $1900 per ounce as safe haven buying got a boost amid heavy correction in risky assets. Equities tanked amid growing fears of a full-scale Russian invasion of Ukraine. Soaring inflation also pushed up Gold to near one year high and the metal currently trades up 1.1% at $1930 per ounce. Eurozone inflation rose to a record high in January, as initially estimated, driven by surging energy prices, final data from Eurostat showed on Wednesday. Inflation rose to a record 5.1% in January from 5% in December. Bitcon slumped more than 6% to test a one month low near $35500. MCX Gold should find this supportive. The local futures closed at Rs 50389 per 10 grams in last session, up 0.12% on the day.
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