Sibanye Stillwater Q1 PGM output down 10% due to power cuts, US disruptions
PGM production from operations in southern Africa and the US declined to 480,481 ounces in Q1, down from 533,237 ounces during the same period last year.
"Not only do the events on the Ukrainian border have investors seeking out safe-havens, but it (gold) also offers inflation protection," analyst at OANDA says.
While rising interest rates bring macroeconomic headwinds for equity valuations, gold has had a special relationship with interest rates in recent hikes.