Gold Rush – The price of gold hit an 8 month high on Thursday, trading above US$1900/oz after investors fled riskier assets and piled into the safe-haven commodity amid the Russian invasion of Ukraine
Russia/Ukraine – As Russian troops invade the Ukraine, several nations such as America, Australia and countries across Europe have begun announcing sanctions on Russia, causing another volatile week for global markets. Wall Street fell more than 2% on Wednesday as the S&P500 enters correction territory.
Iron Ore – The price of Iron has continued its strong rebound since the December lows, breaching $150USD/t before pulling back to $135USD/t. Iron Ore has seen a strong start to 2022 in comparison to equity markets, currently sitting at a 12% increase since January 1.
Energy Prices – European natural gas led the gains with a 13% rise as conflict threatens supplies. Russia is Europe’s largest provider of gas, a third of which travel through pipelines crossing the Ukraine. Oil went past US$105 a barrel, and is set to remain, even after the Russia/Ukraine tensions die off due to strong demand for transport fuels. Benchmark Dutch futures rose as much as 52%
ASX below 7000 – The ASX had its worst day since September 2020, after reports of explosions in the Ukrainian capital. Thursday saw more than $73 billion in value lost, a fall of 2.99%, or 215 points wiped from the ASX 200, closing at 6990.6 points.
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