WASHINGTON (dpa-AFX) - Gold prices advanced on Tuesday as investor fret about inflation and slowing global growth.
Spot gold edged up 0.3 percent to $2,003.43 per ounce, while U.S. gold futures were up 0.8 percent at $2,011.
Oil pushed past $121 a barrel amid fears of more penalties against Russia, Nickel extended a record-breaking rally and the price of everything from natural gas to wheat has hit all-time highs on concerns about supply disruptions, raising worries about stagflation - a combination of slow economic growth and high inflation.
Russia's Deputy Prime Minister Alexander Novak warned on Monday that Moscow could impose a ban on gas pumping through the Nord Stream 1 gas pipeline to retaliate against sanctions imposed by the West.
The third round of talks between Ukraine and Russia failed to reach a deal on evacuation corridors from several besieged cities on Monday, as many of the routes were leading to Russia or its ally Belarus.
The United States is planning to impose a ban on Russian oil imports without teaming up with its allies in Europe, although a final decision has not been made yet.
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