Gold Down on Monday

The price of gold on Monday is falling due to a certain reduction in the tension between Russia and Ukraine, according to the data.

The value of April gold traders at New York’s Somex fell by $ 7.2, or 0.36%, to $ 1977.8 per troy.

President Vladimir Schitin noted that there were “certain positive developments” in the talks with Ukraine.

Gold had fallen in Asia on Monday morning. US Treasury Yield, U.S. Interest rates rose on expectations of a hike, while hopes of an end to the conflict in Ukraine further affected the safe-haven yellow metal.

“A key reason is the rise in Treasury yields,” said the DailyFX strategist. In addition, the market is pricing in the US Federal Reserve meeting on Wednesday, at which it could start a tighter cycle. So it is a turnaround for gold. negative factor,” DailyFX strategist Margaret Yang told media.

“Given the fact that both sides are willing to talk, I think that the worst of the Ukraine crisis is probably behind us. It is unlikely that the gold price will move beyond the previous highs from last week or soon. will reach record highs.”

US Deputy Secretary of State Wendy Sherman said on Sunday that there could be signs that Russia is ready to open enough talks to end the conflict, even as fighting continues.

Benchmark US 10-year Treasury yields climbed to a nearly one-month high, with the Fed widely expected to raise interest rates when it hands down its policy decision later in the week.

In the Asia Pacific region, the Bank of Japan will submit its policy decision on Friday, while the Reserve Bank of Australia will release the minutes of its latest meeting on Tuesday.

The Bank of England will also submit its policy decision on Thursday.

Among other precious metals, palladium fell 3.9% to $2,705.18 an ounce. It hit a record high of $3,440.76 during the past week, as fears of a supply disruption from top producer Russia continue.

Russian mining giant Nornickel managed to secure alternative routes for its palladium deliveries, but logistics issues remain. Silver fell 0.9% and platinum 1.9%.

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The price of gold on Monday - /10

Summary

The price of gold on Monday is falling due to a certain reduction in the tension between Russia and Ukraine, according to the data.

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