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Gold prices jumped more than 2 percent in the US global market on Thursday, extending its gains for the second day in a row, hitting a 13-month high at $1,950 an ounce.

Financial circles expected that the price of an ounce would reach the level of $2000, in light of the large purchases of the precious metal as a safe haven after Russia launched a military attack on Ukraine, according to the “Wall Street Journal.”

Gold prices rose by 2.3 percent to reach $1954.1 an ounce, the highest since January 2021, up from the opening level of trading today at $1910.14, and recorded the lowest level at $1909.83.