Gold is one of the most traded commodities in the world along with oil, natural gas, and grain. But this precious metal is also one of the most interesting assets because it is considered to be a major safe-haven asset and is used to hedge the risk of inflation. In addition, gold is widely used in various industries including jewelry, dentistry, medicine, cell phone manufacturing, etc.

On February 24, at five o'clock in the morning, like Nazi Germany, the army of the Russian Federation invaded the sovereign and the independent state of Ukraine. The open confrontation against Ukraine's statehood was called a "special military operation" by Russian President Putin, which triggered a mixed reaction from financial markets, including the currency, stock, and cryptocurrency ones. First of all, the reaction took place in the safe-haven assets (gold, Swiss franc, and US dollar), which showed considerable gains.

Since it was first used as currency 5,000 years ago, gold has remained the most recognizable symbol and store of wealth. Today, gold's rarity, its universal appeal as a safe haven asset, and the ever-increasing demand from investors and central banks have made it a sensible inclusion in any investment portfolio. So, is gold still a good investment option given the current global economic and political climate? What are gold prices predictions for the future?

It is well-known that any crisis urges people to invest in reliable assets, to look for a safe haven for capital preservation and multiplication. The modern world offers a huge number of financial instruments with different levels of returns and risks. Being afraid of big losses because of the economic crisis, the majority of international investors prefer safe-haven assets and conservative strategies.