Gold prices are down 1.2% following negotiations between Russia and Ukraine, and following expectations of the US Federal Reserve raising interest rates for the first time in three years.
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Russian-Ukrainian negotiations lower gold prices globally
Gold prices fell globally following news of the prospect of negotiations between the Russian-Ukrainian sides.
According to CNBC, “The news of the Russian-Ukrainian negotiations made the yellow metal continue to decline today, Tuesday.”
The sources attributed this decline as well to the increased expectations that the US Federal Reserve will raise interest rates for the first time in 3 years.
At the price level, the price of gold in spot transactions fell 1.2% to $1,928.58 an ounce, while US gold futures fell 1.5 percent to $130.70.
Analysts expected that the US Central Bank would announce, tomorrow, Wednesday, a quarter-point increase in borrowing costs.
In addition, the price of palladium in spot transactions rose 1.7% to $ 2428.72 an ounce, following it recorded, yesterday, Monday, its weakest session in two years with the easing of supply concerns.
The price of silver in spot transactions fell 1.8 percent to $ 24.58 an ounce, and platinum also fell 1.8 percent to $ 1012.04.