Gold Falls as Risk Appetite Improves, Focus on Ukraine

Gold fell on Wednesday as risk-related assets rose, as investors in the precious metal awaited more developments in the Ukraine crisis while preparing for major central banks to raise interest rates soon.

By 1035 GMT, spot gold fell 0.2 percent to $1,894.82 an ounce, retreating from a nearly nine-month high of $1,913.89 an ounce hit on Tuesday.

And US gold futures fell 0.6 percent to $ 1896.10 an ounce.

On Tuesday, Western countries imposed new sanctions on Russia after ordering its forces to move into two breakaway regions in eastern Ukraine, and the West threatened more sanctions if Moscow launched a full-scale invasion of its neighbor.

Global stocks rose on Wednesday after a four-day decline, as investors awaited Russia’s next move.

As for other precious currencies, silver settled at $ 24.08 an ounce. Platinum rose 0.4 percent to $1,079.83 an ounce. Palladium rose 0.8 percent to $2,367.09 an ounce.