Gold hit fresh multi-month highs near the $1,910 on Monday but has since dropped back under the $1,900 handle. Geopolitics remains the wildcard that could stoke surprise volatility in either a bullish or bearish direction.
The Russian ruble has been coming under significant pressure on Monday, indicative of rising fears of a Russian invasion or military incursion into Ukraine that would trigger a round of sanctions from Western countries against Moscow.
Violence between pro-Russia separatists and Ukraine\u2019s military in the contested Donbass region continued on Monday, the former group upping the inflammatory rhetoric by accusing Ukraine\u2019s military of shelling and planning a full-scale assault.
This is keeping gold underpinned close to recent highs. At current levels in the mid-$1,890s, the precious metal trades close to flat on the day and only about 0.75% below earlier session highs.
One bearish risk to note for gold is whether a summit between Russian President Vladimir Putin and US President Joe Biden goes ahead this week following recent chatter.
The meeting could be a good opportunity to ease tensions somewhat. Otherwise, US data and Fed speak will be worth watching, but will, for the most part, still play second fiddle to the Ukraine crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold hit fresh multi-month highs near the $1,910 on Monday but has since dropped back under the $1,900 handle. Geopolitics remains the wildcard that could stoke surprise volatility in either a bullish or bearish direction. The Russian ruble has been coming under significant pressure on Monday, indicative of rising fears of a Russian invasion or …<\/p>\n","protected":false},"author":13,"featured_media":54569,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[7214,6874,7251,8592,7189],"class_list":["post-60617","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-biden","tag-gold","tag-russian-ruble","tag-russian-ukranian-crisis","tag-talks"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=60617"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60617\/revisions"}],"predecessor-version":[{"id":60621,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/60617\/revisions\/60621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/54569"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=60617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=60617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=60617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}