A risk-on market mood, and high US T-bond yields, weighed on the non-yielding metal.Gold (XAU/USD} is set to end the week with losses after reaching a daily high at $1974.48 on Thursday. Breakingthat Russia would be open to sit down and talk with the Ukrainian Government, increased appetite for riskier assets, to the detriment of save-haven assets, like precious metals and low yielder currencies. Said that XAU/USD remains beneath the $1900 handle, trading at $1892 at the time of writing.
A busy week in the global financial markets witnessed how fragile the market sentiment is. The Ukraine-Russia conflict does not ease, and in fact, as of late, reports said that attacks on Ukraine’s capital Kyiv increased. Ukrainian Ambassador to the US Markarove stated that Russia’s attack on Ukraine has been more brutal, while Kyiv’s mayor reported blasts within minutes, which were heard close to a power station in Kyiv.trading in the green, probably on month-end flows.
XAU/USD, in the last two days, rallied to a one-and-a-half-year high at $1,974.48 early Thursday but has plunged since then and so far failed to cling to the $1900 area. Worth noting that some investors are aware that the Russian Central Bank has some reserves in gold and booked profits ahead of reaching the $2,000 mark in fears that President Putin could use some of those to support the Russian ruble.