Vladimir Putin authorises military operation in Ukraine; UN Security Council holds emergency meeting; Explosions being heard in Ukrainian city of Kharkiv

Russian President Vladimir Putin’s announcement of a formal invasion of Ukraine is sending several financial markets into a rollercoaster ride.

Gold is typically seen as a “safe haven” asset – meaning investors believe its price is not connected to global or geopolitical unrest like stock markets are.

Following Mr Putin’s announcement, the price of gold rocketed up 2.59 per cent to US$1947.

That’s a high not seen since the middle of 2021.Meanwhile, Bitcoin is continuing to slump.

Following Mr Putin’s announcement BTC plunged almost eight per cent to a price of US$34,922 per coin.

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