WASHINGTON (dpa-AFX) - Gold surged above $2,000 per ounce on Monday as the Russia-Ukraine crisis entered its 12th day.
Spot gold jumped 1.6 percent to $2,001.21 per ounce while U.S. gold futures were up 2 percent at $2,005.70.
The White House said it is proposing a ban on oil imports from Russia in relation to the conflict in Ukraine, posing a risk of global stagflation.
In a letter to lawmakers on Sunday, House Speaker Nancy Pelosi stated that the chamber is exploring a bill that would ban the import of oil and energy products from Russia amid intensified fighting in Ukraine.
In a phone call with Turkish President Tayyip Erdogan, Russian President Vladimir Putin said on Sunday his military operation in Ukraine is progressing according to plan and would not cease without meeting his demands or Kyiv stops fighting.
Russia announced limited ceasefire and opening of several civilian evacuation corridors in Ukraine's Kyiv, Mariupol, Kharkiv and Sumy today to allow civilians to evacuate.
An attempt to evacuate 200,000 people from the Ukrainian city of Mariupol failed on Sunday, as Russian forces violated the ceasefire plan.
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