Russia Ukraine Crisis : Many commodities including Gold-Crude are expensive amid Russia’s attack on Ukraine’s capital Kiev

Russia Ukraine Crisis : Many commodities including Gold-Crude are expensive amid Russia's attack on Ukraine's capital Kiev


new Delhi. The tension between Russia and Ukraine (Russia-Ukraine) for several days finally turned into war today. When Russia started firing missiles at Ukraine’s capital Kiev on Thursday morning, the commodity market also boomed.

In the global market on Thursday morning, the prices of all commodities including gold-silver, dollar, crude, natural gas, nickel, aluminum suddenly increased. Experts say that if the war between the two countries goes on for a long time, then the crisis on the commodity market can deepen. Its effect will also be visible on retail markets around the world including India.

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gold and silver
Gold and silver prices started rising as soon as Russia fired missiles at Kiev. In the international market, the price of gold increased by 2.15 percent, while the price of silver also increased by more than 2 percent. Gold is currently at a price of $ 1,935 an ounce, while silver is being sold at $ 25 an ounce. This is the reason that even in the Indian bullion market, gold has crossed the price of 51 thousand and silver 69 thousand.

Rupee breaks 60 paise against dollar
As the crisis escalated in the international market, the Indian currency also fell against the dollar. In the foreign exchange market (Forex), the rupee fell 0.59 percent to 75.23 against the dollar at 11.05 am. It had closed on 23 February at a price of Rs 74.63. That is, the rupee has fallen by about 60 paise.

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Crude ‘fire’, crosses $100
The biggest crisis is visible on crude oil. Russian missiles set crude prices on fire and crude oil prices in the international market crossed $100 a barrel for the first time in eight years. At the time of morning trading, crude was selling at $100.04 a barrel with a gain of 5.2 percent.

The price of natural gas is also on the sky
In the international market, the price of natural gas also jumped by more than 6 percent. On Thursday morning, natural gas in the US market was up 6.32 percent at $ 4.88 per cubic centimeter.

Also read – Amidst the Russia-Ukraine crisis, there was a strong jump in the rate of gold, reached beyond 51,000, know today’s rate

The luster of metals also increased
The prices of metals like nickel and aluminum also went up suddenly in the commodity market. The price of Nickel increased by 2.01 percent i.e. about Rs 600 per tonne on Thursday morning. A day earlier, it had closed down 2.74 per cent at Rs 24,944. Similarly, the rates of aluminum have also increased by 2 per cent i.e. about Rs 64 per tonne.

Tags: gold price, Silver Price Today


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