Gold fell to its lowest level this month as Russia pulled back some of its troops and positive messages after peace talks between Russia and Ukraine.
Gold fell to its lowest level this month due to decreasing demand for safe assets amid developments that eased tensions in Ukraine. Spot gold fell 2% this week on optimism about progress in peace talks between Russia and Ukraine in Turkey.
The Fed’s increasingly aggressive approach to stop inflation also pushes bond yields up, keeping pressure on the precious metal.
Despite everything, gold continues its course above 5 percent for this quarter due to war and inflation concerns. Recession fears in the US increase gold’s attractiveness as a safe-haven property.
Spot gold continues its sideways course, trading at $1919.61.