Gold slips on Russia-Ukraine Talks And Rate Hike

Gold extended its decline on Tuesday as ceasefire talks between Russia and Ukraine slashed demand for safe-haven assets, while expectations that the US Federal Reserve would raise interest rates for the first time in three years increased pressure on the yellow metal.

And the price of gold in spot transactions fell 1.2 percent to $ 1928.58 an ounce (an ounce) at 1032 GMT, after earlier touching its lowest level since the third of March at $ 1924.56.

US gold futures fell 1.5 percent to $130.70.

The US Central Bank is expected to announce at the end of its two-day meeting, tomorrow, Wednesday, to raise borrowing costs by a quarter of a percentage point.

Among other precious metals, the price of palladium in spot transactions rose 1.7 percent to $ 2428.72 an ounce, after recording on Monday its weakest session in two years as supply concerns receded.

The price of silver in spot transactions fell 1.8 percent to $ 24.58 an ounce, and platinum also fell 1.8 percent to $ 1012.04.