GLOBAL MARKETS-Gold and Oil Surge on Ukraine War Fears as Poor Data Pummels The Euro

GLOBAL MARKET - LONDON/SINGAPORE. Gold, oil, and haven assets from the Swiss franc to German government debt headed for strong weekly gains on Friday after the Russia-Ukraine conflict escalated, while the dollar marched higher and poor economic data heaped pressure on the euro.

Gold was up 1.1% at $2,688 an ounce on Friday and 5.4% higher for the week, Brent crude futures held at $74.29 a barrel after a 4.5% weekly gain and the index tracking the U.S. dollar against rivals surged to a two-year high.

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