2025.08.1800:53:33UTC+00Gold Hovers Near 2-Week Lows

Gold prices experienced a slight increase to $3,340 per ounce on Monday; however, they remain close to their lowest level in over two weeks. This is attributed to the diminishing appeal of the metal as a safe haven amid potential easing of geopolitical tensions. Last Friday's meeting between US President Donald Trump and Russian President Vladimir Putin did not secure a ceasefire breakthrough, yet Putin consented to allow the US and Europe to offer Ukraine strong security assurances as part of a potential resolution to the ongoing conflict. President Trump is expected to meet with Ukrainian President Volodymyr Zelensky and other European leaders later today in an attempt to facilitate a swift peace agreement. Concurrently, investors are keenly anticipating the release of the Federal Reserve's recent meeting minutes on Wednesday, hoping for insights into the decision to maintain the current interest rates. Subsequently, market attention will shift to Federal Reserve Chair Jerome Powell’s comments at the annual Jackson Hole symposium, which are expected to provide further indications regarding future policy directions.