War prices: gas flies, gold rises

Euro splash, now worth less than a dollar (ANSA)

(ANSA) – MILAN, AUGUST 25 – Russian blackmail on energy frightens Europe and drives up the price of gas but also the cost of energy. In Germany and France it has jumped to new records, building up greater pressure on consumers and industry.

German electricity prices for the next year have risen by 13% to 725 euros per megawatt hour and the French ones by 12% to 880 euros, which is about 10 times the level of a year ago. In Amsterdam, gas futures are high at € 309 (after hitting € 315 in the morning). The astronomical increase is caused by tighter gas supplies from Russia, which says it will stop flows through the Nord Stream pipeline from 31 August.

Tensions also on metal prices with gold rising to $ 1,762 (+ 0.66%). (HANDLE).

Source: Ansa

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