Gold prices fell today, Wednesday, from their highest level in three months, which they recorded in the previous session, as US President Joe Biden’s comments appeared to calm investors’ concerns regarding an explosion that occurred in Poland.
Spot gold fell 0.3% to $1,772.95 an ounce by 0714 GMT, following hitting its highest level since August 15 on Tuesday.
US gold futures settled at $1,776, according to Archyde.com.
Biden said that the United States and its allies in NATO are investigating the explosion that killed two people in Poland, but preliminary information excludes that it was caused by a missile launch from Russia. Moscow has denied responsibility for it.
Biden’s comments lifted sentiment in financial markets in general, as MSCI’s broadest index of Asia-Pacific stocks outside Japan rose 2%.
At the same time, data on Tuesday showed that producer prices in the United States rose less than expected in October, which is further evidence that inflation began to recede.
The data, which followed last week’s announcement of a smaller-than-expected increase in consumer prices in October, raised hopes that the Federal Reserve will slow the pace of interest rate hikes, capping how low gold prices can fall.
As for other precious metals, spot silver rose 0.2% to $21.58 an ounce. Platinum fell 0.5% to $1009.62, and palladium fell 0.8% to $2081.50.
 "Karol Belaník from MŠK Žilina about the attack on Slovan and the sale")