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28 Mar 2022
Gold Drops amid Strengthening Dollar and Resuming Ukraine-Russia Peace Talks
The Index Today
Gold fell in Asia on Monday morning as the U.S. dollar gains strength while the warring nations of Ukraine and Russia prepare to recommence diplomatic negotiations this week.
According to Investing.com, gold futures dipped by 0.54% to $1,943.6 by 1:04am ET (5:04am GMT). The 10-year U.S. Treasury yields also climbed on Friday, rising to three-year highs as markets continue to weigh surging inflation and the resulting aggressive stance adopted by the Federal Reserve. The dollar also rose on Monday morning, thus adding to dampening investor appetite for the bullion which is a safe-haven asset.
Russia and Ukraine are gearing up to resume peace talks this week to end their ongoing war which broke out after Russia invaded Ukraine on February 24. Ukraine’s President Volodymyr Zelenskiy assured his country’s neutral stance and desire to bring the war to a close soon, while also upholding the state’s rights as a democratic nation.
©Photo: DAVID GRAY / AFP