Gold continues its upward movement with strong demand due to the Ukraine war, global growth risks, and the search for a hedge against inflation.

Gold rose for the fifth day in a row. Due to the Ukraine war and global growth risks, the demand for safe assets and the search for a hedge against inflation lead to the rise of gold.

Rising bond yields and stronger dollar trends point to the Fed’s expectation of a faster tightening. Fed Chicago Chairman Charles Evans noted that a faster rate hike to fight inflation is worth discussing.

However, Fed governor Christopher Waller said he would do everything to prevent “collateral damage” from rate hikes that could have a sledgehammer effect on the economy.