Gold is Falling But Remains Near Its Highest Levels

The price of gold retreated from its highest level since June on Tuesday, but the escalation of tension in eastern Europe could keep the demand for it driven as a safe haven.

And gold fell in spot transactions 0.5% to $ 1895.76 an ounce, after hitting its highest level since the first of June, recording $ 1913.89 an ounce earlier on Tuesday.

US gold futures rose 0.1 percent to $1,901.70.

The United States and its Western allies are due to announce new sanctions against Russia on Tuesday after President Vladimir Putin formally recognized the independence of two breakaway regions in eastern Ukraine, deepening Western fears of a new war in Europe.

As for other precious metals, silver rose in spot transactions by 0.5% to $24.05 an ounce, and platinum rose 0.4 percent to $1078.91.

Palladium fell 0.8 percent to $2,368.29.