Gold Shines Bright Amid Global Tensions

Gold prices surged as global tensions escalated with Russia's missile strike on Ukraine. The euro hit a 13-month low while European gas prices peaked. Stock markets saw mixed reactions following Nvidia's stellar earnings, and the yen showed strength amid speculation about fiscal intervention.

Gold rose to its highest weekly gain in almost eight months, driven by heightened geopolitical tensions as Russia launched a hypersonic missile strike on Ukraine. The euro, meanwhile, slumped to a 13-month low amid market uncertainties.

Escalating risks pushed European gas prices to new heights, steering investors toward safer options such as German debt and the Swiss franc, which ended with its first weekly increase in two months. In Asia, Nvidia's robust performance lifted tech stocks, with gains noted across Taiwan and South Korea.

On the financial markets, gold held steady at $2,677 an ounce, climbing over 4.5% for the week. Speculation about Japan's fiscal policy also boosted the yen, which strengthened against the dollar amid talks of potential interventions.

(With inputs from agencies.)