Gold prices are achieving the biggest weekly loss in 6 months

Gold prices are on their way to the biggest weekly loss in 6 months, in light of the beginning of the first direct discussions between Russia and Ukraine in more than three years. The precious metal fell by 4% this week, which traded about $ 3190 an ounce. These discussions, held in Türkiye, concluded with an agreement on the exchange of prisoners and discussions on the possibility of a ceasefire, without announcing an official ceasefire. The progress of commercial negotiations between the United States and China also contributed to reducing the demand for gold, resulting in reduced pressure, as the calm between the two largest economies in the world led to a sharp recovery in high -risk assets. “We see some signs of golden decline, with the decline in uncertainty due to the calm of customs duties, at least at the moment,” says Christopher Wonging, a strategic expert in the currency at Oversea-Chinese banking. The performance of the precious metal decreased with more than $ 300 from the highest record recorded last month, and despite this, the metal is still high as one -fifth since the beginning of this year, supported by the recovery of gold indicators indicators, and strong purchases of central banks, in addition to the demand for speculation in China. UBS Group investment officer Mark Hevelli said this week that “the ongoing fluctuations in dangerous US assets and the US dollar will push more international investors to be exposed to the US dollar and distribute their assets worldwide,” adds that “gold still represents an important investment diversification.” The immediate gold price fell 1.7% to $ 3185.50 per ounce at 14:40 New York. On the other hand, the Bloomberg index for the direct dollars has risen. The prices of silver, albadium and platinum also dropped.