Gold Is Walking A Tightrope As Equities Rise

Gold Is Walking A Tightrope As Equities Rise

Gold is once again hoping to prove itself the key hedge against instability, with a Russian war on Ukraine running into its eighth day and Western sanctions crippling Moscow, but so far, "flat" is the safe-haven word of the day.

Gold has gained about $144 per ounce in the last 30 days, and in theory, this is the perfect situation for it to soar. That hasn't happened yet, despite Barrick Gold CEO Mark Bristow's insistence that the threat of the Russian-Ukraine war could lead to a market collapse.

"If you look at this crisis, there's a whole lot of potential of unintended consequences. We've got very hot markets, and we are now going to really stress the global economy out. Everyone's going to be impacted. If this goes on for much longer…the threat of that is it could collapse the market," Bristow told Kitco.