Gold prices fell during trading on Monday, after hitting the highest level in more than 8 months, in conjunction with the decline in demand for safe havens.
The decline in demand for the yellow metal came after announcing the possibility of holding a summit between the US and Russian presidents to discuss and discuss the Ukrainian crisis.
The drop in gold also came with more pressure due to an expected interest rate hike by the US Federal Reserve.
The price of gold in spot transactions decreased by 0.3% to $ 1891.33 an ounce by 05:14 GMT, retreating from the highest level in the session at $ 1908.02, which is Its highest since June 3, 2021.
US gold futures fell 0.3% at $1,894.20, as higher interest rates increase the opportunity cost of holding non-returnable gold.
For other precious metals, spot silver fell 0.9% to $23.75 an ounce, and platinum rose 0.2% to $1,069.87, while palladium fell 1.6% to 2308.23 dollars.
