In addition, gold prices have also gained positive factors from purchasing pressure as a hedge against inflation.
Comex gold contract Delivered in April It rose $15.80 to close at $1,937.30 an ounce.
At the same time, gold prices were also supported by a fall in US Treasury yields. This reduces the opportunity cost of holding gold. Because gold is an asset that does not return in the form of interest.
SPDR Gold Trust Fund, the world’s largest gold ETF. Increase gold holdings this week to their highest level since March 2021.
Investors have been keeping an eye on progress in peace talks between Russia and Ukraine, but Mikhail Podolyak, adviser to Ukrainian President Volodymyr Zelensky and head of Ukraine’s negotiating committee, said the peace talks were “unprecedented”. With Russia facing great difficulties.
“We are still negotiating online. But it was difficult. Because the Ukrainian side has clear stances and principles,” Podolyak said.
Russia has accused Ukraine of changing its stance on the talks. He said the United States was trying to keep Russia and Ukraine in a state of war for as long as possible.
No progress has been made in peace talks between Russia and Ukraine. There was even earlier hope that both sides could sign a ceasefire agreement.