Since the end of January, gold has been raised by almost 7%.
The military operation which began in Ukraine brought some confusion and panic to financial markets including the gold market. On 24 February, on the day of the military operation, volatility has been rapidly increased and, by the end of the day, a candlestick with a small body and long shadows has been materialized.
Will gold be a defensive asset in the current crisis situation?
We are about to find it out.
If the protective functions of gold are justified, gold may grow until $2,000 an ounce and higher.