The price of gold exceeded $ 2,000 per ounce in Asian markets this morning, as many investors resorted to the precious metal, considering it safe, amid growing concerns about the impact of the war in Ukraine on the world economy.

The price of an ounce of gold reached as much as $ 2,000.86, or in other words at its highest level since September 2020.

Precious metals are generally considered a “safe haven” for investors in times of war. The precarious situation in Ukraine resulted in a rally in other precious metals, as the prices of aluminum and copper reached record levels.

The price of aluminum for the first time broke the 4,000-dollar barrier per ton and copper rose to a historic rate of 10,845 dollars per ton.