(Bloomberg). — Gold rose to its highest point in eight months, as fears over rising geopolitical tensions fuelled demand for haven assets.

The possibility of an invasion in Europe has pushed Bullion’s gains higher than ever. The U.S. told its allies, in the most recent development, that Russia could invade Ukraine and target cities other than Kyiv. Three people who are familiar with this matter said so. 

President Joe Biden said on Friday he’s now convinced Russian President Vladimir Putin has decided to move against Ukraine and that an invasion –- including a strike on Kyiv –- could come within days. Moscow insists it does not intend to invade its neighbor, and has said that troops are already being pulled back from the border. 

Geopolitical worries have outweighed any bearish sentiment about a possible rate increase, which may dampen demand for non-interest bearing precious metal. 

Last week’s remarks by Governor Lael brainard, John Williams of the New York Fed, and Charles Evans from Chicago Fed showed that officials are eager to tighten up without seeking an excessive interest rate hike or any move prior to their next meeting.

This was the largest intraday increase since June 3rd, when it rose by 0.4% to $1.906.70 an troy ounce. It closed at $1.905.47 at 7.36 in Singapore. The Bloomberg Dollar Spot Index was unchanged. Platinum, palladium, silver and gold all moved up

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