By 0323 GMT, the price of gold in spot transactions rose 0.32 percent to $2,640.19 per ounce, its highest level since November 11.
The price of gold futures in the United States increased 0.5 percent to $2,643.70 per ounce.
The rise stopped US dollar After recording the highest level in a year last week, which made AFor gold More attractive to buyers holding other currencies.
Russian President Vladimir Putin eased the restrictive requirements for launching a nuclear strike in response to a wide range of conventional attacks, days after reports said that Washington had allowed Ukraine to use American-made weapons to strike deep into Russia.
“The US mandate and Russia’s response… contribute to increased uncertainty in the market and boost safe-haven assets such as gold,” Ilya Spivak, head of global macro at Tastlev, told Reuters.
“On the upside, the main resistance level to watch is around $2,700,” he added.
Several Federal Reserve officials are expected this week to shed light on the path to cutting US interest rates.
Traders currently see a 58.9 percent probability of a 25 basis point cut in interest rates in December. Recent strong economic data and tariffs proposed by US President-elect Donald Trump have raised possibilities that interest rates may remain high for a longer period.
Spivak said that the market is adjusting its expectations regarding the cuts that the US Central Bank may decide next year after inflation has become a greater source of concern, which may be negative for gold.
High interest rates would reduce the attractiveness of gold, which does not generate a return.
Kansas City Federal Reserve Bank President Jeffrey Schmid said it remains uncertain how far interest rates can fall, although the US central bank’s initial cuts represent a vote of confidence that inflation is returning to the target rate of 2 percent.
As for other precious metals, silver settled in spot transactions at $31.22 per ounce. Platinum increased 0.1 percent to $975.10, and palladium settled at $1,035.43.
