By Barani Krishnan

Investing.com – The last time gold got above $1,860 was three months ago, and the last time it rose 2% in a day was six months ago — long enough for longs in the market to forget.

But that’s what happened in Friday’s session amid U.S.-fed fears of an imminent Russia-Ukraine war and that, too, after the close of the Comex session that unofficially put the market up 3% for the week.

Gold’s most active contract on New York’s Comex, , settled up $4.70, or 0.3%, at $1,842.10 an ounce.

It was just before PBS announced that US believed Vladimir Putin had decided to invade Ukraine. They also communicated these plans to Russia’s military.

Jake Sullivan, U.S. National Security Adviser told a White House Media Briefing that a Russian invasion of Ukraine might occur by next week. This would most likely include an attack from the air. Sullivan said that it was not clear that Putin had made a decision.

Sullivan’s apologies for the so-called Russian intention on an invasion were not noticed by markets which went wild on first signs of imminent war. The tumbled almost 3% at one point, hit $95 a barrel and gold reached $1,867.25 — which will officially be the high for Monday’s session.

For longs in the market, gold’s ability to sustain above the key $1,800 has been a boon despite repeated fears of excessive U.S. rate hikes this year to deal with soaring inflation.

Now, here’s the golden question. Will it go up to $1,900 next week, and then next week?

Geopolitics could now answer that, more than gold’s charts.