Gold futures settled higher in Monday’s limited trade as doubts over a potential summit between the U.S. and Russian presidents to discuss the crisis in Eastern Europe kept bullion supported near its highest level since June 8. The possibility of a summit to discuss a path out of Europe’s biggest military crisis in decades between U.S. President Biden and Russian President Putin put pressure on gold prices early in the session, but the market rebounded late in the day on signs of increased confrontation.
In Monday’s shortened trading session, Gold futures for April rose by 0.58% to settle at $ 1910.80 on the Comex division of the New York Mercantile. While, spot gold fell by 0.2 % at $1,893.80 per ounce.