Gold price slides on hopes of progress in Ukraine peace talks

Gold prices slid by over 1% as risk appetite improved amid cautious hopes for progress in peace talks between Ukraine and Russia.

Spot gold fell 1.4% to $1,955.43 per ounce by 11:40 a.m. ET, still maintaining a six-month high. US gold futures were also down 1.4%, trading at $1,957.80 per ounce on the Comex.

Meanwhile, benchmark US 10-year Treasury yields saw a slight bump with the anticipation of a Federal Reserve rate hike this week, adding further pressure to the non-yielding bullion.

While there is a risk-on mood across major markets, “I wouldn’t call this (the recent rally) the peak in gold just yet, because this (Ukraine) situation is still uncertain. It’s so fluid,” Julius Baer analyst Carsten Menke told Reuters.
DYNAMIC WEALTH RESEARCH

Analysis and insights into the newest trends and industries shaping the world and your wealth.

The world is more dynamic than at any time in History.
New Markets are opening up. Technology is accelerating. It’s changing everything.

And creating fortunes in the process.

Dynamic Wealth Research exposes the biggest and most profitable changes for our readers.
SHARE DYNAMIC WEALTH RESEARCH
© 2016 - 2022 DYNAMIC WEALTH RESEARCH, Privacy Policy, Disclaimer