International gold prices rebounded slightly on Tuesday as the dollar index fell, offsetting hopes for upcoming peace talks between Russia and Ukraine. Gold is expected to stop falling around $1922.
Spot gold rose 0.05% to $1923.37 / oz at 15: 00 Beijing time; the main COMEX gold contract fell 0.87% to $1923.0 / oz; and the dollar index fell 0.19% to 98.953.
The strength of the dollar makes gold more expensive for holders of other currencies. Us 10-year bond yields hovered near three-year highs, with higher yields increasing the opportunity cost of holding gold.
Ukraine said on Monday that the best hope for the first face-to-face peace talks with Russia in more than two weeks was to reach a cease-fire. But both Ukraine and the United States are sceptical about major breakthroughs.
Kremlin spokesman Peskov said that no substantive progress has been made in the talks so far, but it is important for the two sides to continue face-to-face talks. He declined to give further information.
