Noor Trends News, Technical Analysis, Educational Tools and Recommendations
As pointed out by Mohamed Hashad, Director of Research and Development Department at Noor Capital, in this morning’s report, The safe-haven yellow metal fell strongly after positive news regarding the progress of negotiations between Russia and Ukraine. As a result, the yellow metal gave up the levels of 1900 dollars an ounce.
This came after The Russian Defense Ministry said on Tuesday that it would scale down military activity in Kyiv and Chernihiv to create conditions for dialogue, reported Reuters, correcting an earlier headline claiming that Russia said it would “stop” military activity in the area. In addition, the Russian Defense Ministry called on Ukraine to abide by the Geneva Convention for Prisoners of War.
During these moments of trading today, Tuesday, gold gave up about 51 new dollars of its value, as the price of an ounce fell to levels of 1890 dollars, down by 2.6%.
Gold came under pressure today as market sentiment improved, hoping for progress during the first face-to-face peace talks between Russia and Ukraine.
