Gold prices fell in Asian trading on Monday following rumors of ceasefire talks between Israel and Hezbollah.
However, the yellow metal has recovered from the previous week’s gains due to increased tensions between Russia and Ukraine. In addition, Besant’s appointment removed a significant part of the market uncertainty.
Reports of the deal suggested that the protracted Middle East conflict could intensify, which weighed on demand for gold. However, over the weekend, both Israel and Hezbollah launched further attacks on each other, undermining each other.
Gold has settled for solid gains after a week of heightened tensions between Russia and Ukraine. And tensions are expected to remain high this week.
