$ 6 drop in world gold prices

Gold prices are trading below $ 1,900 an ounce today, Wednesday, after rising to a nine-month high yesterday due to the Ukraine conflict.

Investors are focused on the risks of inflation and the possibility of contractionary policies by central banks.

Gold traded down $ 6, 8 cents, at $ 1892.56 an ounce. The precious metal reached $ 1913.89 in unstable trades yesterday, which is the highest figure since June.

“The main factor is the easing of the risk of escalating the conflict,” said Ilya Spivak, a Daily Fox strategist, referring to the Russia-Ukraine conflict.

The United States, the European Union, and Bahrain have said they intend to impose sanctions on Russian banks and individuals. At the same time, Germany stopped the Russian gas pipeline project.

US Treasury bonds rose on Tuesday as the market expects the Federal Reserve to raise interest rates in March.

Money markets expect a 0.5 percent increase next month.

Raising interest rates reduces the attractiveness of gold as an interest-free asset as gold maintenance costs increase.

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