Around ₹1,000. Gold prices fall today, a day after the jump of Rs.

In global markets, gold prices fell today after the US-Russia agreed to negotiate a Ukraine standoff, easing some geopolitical concerns that had boosted demand for the haven asset. Spot gold fell 0.4% to $1,890.91.

On Thursday, gold crossed the $1,900 level for the first time since June 11, 2021, when the precious metal rose 1.8%. Tensions in Ukraine have stirred global financial markets in recent days as the US warned of a possible Russian attack, although the Kremlin said no attack was planned.

“comex” Sleep After gaining 1.6% yesterday, there was a slight decline near $1892/oz. Gold has hit a June 2021 high amid reports of the US Secretary of State and a Russian foreign official meeting next week and some lewd comments from Fed officials. Gold may remain volatile as market players assess the geopolitical situation, although the general bias may be upward unless the US and Western countries play down the possibility of an attack by Russia or until diplomatic talks are held. There is no major breakthrough,” said Ravindra Rao, Head of Commodity Research at Kotak Securities.

In a note, Kotak Securities said that commodities may remain volatile as uncertainty related to Russia could keep financial markets volatile. Although tensions remain, the market reaction could be subdued if there is no fresh escalation or diplomatic efforts are made to resolve the issue.

“Technically strong base for gold is around $1880. Higher trading volume below this level is required by the bears to control the position. RSI has once again started diverging after morning’s fall. While ADX is showing exhaustion to the bulls, traders can sell the metal below $1880 with a target of $1,855 while a move above $1,903 can be used for buying with a target of 1918. MyGoldKart Director Vidit Garg said, there is no trading area between $1880 – $1903. (with agency input)