Gold moves in a narrow range as markets await developments in the Ukrainian crisis

Gold prices moved in a narrow trading range on Thursday, as caution dominated the markets due to the Russian-Ukrainian conflict and ahead of the release of US inflation data that may provide new indications on the monetary policy situation at the Federal Reserve (the US central bank).

Spot gold fell 0.2 percent to $1,939.93 an ounce. US gold futures also fell 0.2 percent to $ 1941.10 an ounce.

Investors continue to assess US interest rate expectations and await US jobless claims data, which is an indicator of the economy’s strength.

Gold prices approached record highs this month, and then witnessed a steady decline ahead of an important meeting of the monetary policy committee of the US Central Bank last week. It has since moved into a more stable range.

As for other precious metals, silver fell in spot transactions 0.3 percent to $ 24.99 an ounce.

Platinum fell 0.6 percent to $1013.57 an ounce. And palladium rose 0.6 percent to $ 2527.17 an ounce.