in Asia. It should be noted that prices of gold retreat from the highest levels since August 2020 as traders trim the metal’s safe-haven demand.
Even so, Russia may not cheer Kyiv’s intention to dump NATO membership on fears of joining the European Union . The same demolishes President Vladimir Putin’s unsaid target of putting Kremlin-controlled leader in Ukraine and can keep the fears of further geopolitical tension on the table. Recently, Russia called for nationalizing foreign-owned factories that shut operations, which in turn raised doubt on the market’s optimism.
Overall, the market players have finally got a reason to consolidate the latest moves and hence the risk-on may last longer until any major negatives erupt from Moscow. Also important to watch will be Thursday’s US inflation data amid the Fed’s indecision over 0.50% rate hike in March.Information on these pages contains forward-looking statements that involve risks and uncertainties.