Spot gold jumped nearly $20 at the opening, peaking at $1990. Palladium hit a record high on concerns about supply risks. With the war in Ukraine fueling the demand for safe haven, spot gold rose 4.3% last week, the largest weekly increase since July 2020. Investors are assessing the economic impact of Russia’s invasion of Ukraine, which is disrupting the supply of energy, food and metals. The resulting surge in oil prices has raised concerns about global economic growth and inflation risks.

Investors sought gold hedging in turbulent times, gold ETF positions rose to the highest since March, and the net bullion of hedge funds rose to a 19 month high.

According to the data of the US Commodity Futures Trading Commission (CFTC), as of the week from February 23 to March 1, the speculative net long gold held by speculators increased by 14474 contracts to 257622 contracts, a new high in the last 19 months, indicating that investors’ willingness to be bullish on gold continues to rise.

According to the data of the US Commodity Futures Trading Commission (CFTC), as of the week from February 23 to March 1, the net speculative bulls in silver held by speculators increased by 14646 contracts to 44948 contracts, a new high in more than eight months, indicating that investors’ willingness to be bullish on silver continues to heat up.

According to the data of the US Commodity Futures Trading Commission (CFTC), as of the week from February 23 to March 1, the net speculative long positions of crude oil held by speculators increased by 29622 to 368663 contracts, indicating that investors are more willing to be bullish on crude oil.

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