Gold settled about 1 percent lower on Tuesday as investors took profits from the previous session’s rally to near four-month highs after President Vladimir Putin said Russia would only use military force in Ukraine as a last resort.
Bullion’s drop came as U.S. equities measured by the S&P 500 index surged more than 1 percent to a record high after Putin ordered troops involved in a military exercise near the Ukrainian border back to their bases as he sought to ease tensions.
Prices of safe-haven U.S. Treasury debt also fell following Monday’s gain after escalating military tension between Russia and the West over Ukraine hammered Russian financial markets.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.