<p>Gold held steady on Tuesday as Russia-Ukraine concerns kept the safe-haven metal supported near the previous session's over one-week high, while markets await US inflation data that is crucial for the Federal Reserve's tapering timeline.</p>.<p>Spot gold rose 0.1 per cent to $1,821.61 per ounce by 0434 GMT, having risen to the highest level since Jan. 26 on Monday.</p>.<p>US gold futures were steady at $1,822.50. "Geopolitical tensions surrounding Russia and Ukraine are pushing gold prices higher. Besides, investors are waiting for Thursday's US inflation data," said Margaret Yang, a strategist at DailyFX, adding that January inflation is projected to rise higher than December levels.</p>.<p>According to a <em>Reuters </em>poll, the US consumer price index for January is expected at an annual rise of 7.3 per cent, which would be the largest such increase since 1982, and could pile on pressure on the Fed for aggressive tightening.</p>.<p>Gold is considered a hedge against inflation and geopolitical risks, yet rate hikes would raise the opportunity cost of holding non-yielding bullion. "The overall momentum for gold appears to be weak... the upside may be limited given the fact that the market is pricing in five to six quarter point rate hikes by the Federal Reserve this year," Yang added.</p>.<p>Limiting gold's gains, the benchmark 10-year US Treasuries firmed near their highest levels in over two years.</p>.<p>If Russia invades Ukraine, US President Joe Biden said on Monday that the Nord Stream 2 gas pipeline would be halted while British Prime Minister Boris Johnson said sanctions and other measures will be ready.</p>.<p>The solid demand for safe haven assets like gold amid rising geopolitical tension has helped offset concerns of imminent monetary policy tightening by the US Federal Reserve, ANZ said in a note.</p>.<p>Silver fell 0.3 per cent to $22.93 per ounce, platinum was down 0.3 per cent at $1,016.49, while palladium inched 0.2 per cent up to $2,267.35.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Gold held steady on Tuesday as Russia-Ukraine concerns kept the safe-haven metal supported near the previous session's over one-week high, while markets await US inflation data that is crucial for the Federal Reserve's tapering timeline.</p>.<p>Spot gold rose 0.1 per cent to $1,821.61 per ounce by 0434 GMT, having risen to the highest level since Jan. 26 on Monday.</p>.<p>US gold futures were steady at $1,822.50. "Geopolitical tensions surrounding Russia and Ukraine are pushing gold prices higher. Besides, investors are waiting for Thursday's US inflation data," said Margaret Yang, a strategist at DailyFX, adding that January inflation is projected to rise higher than December levels.</p>.<p>According to a <em>Reuters </em>poll, the US consumer price index for January is expected at an annual rise of 7.3 per cent, which would be the largest such increase since 1982, and could pile on pressure on the Fed for aggressive tightening.</p>.<p>Gold is considered a hedge against inflation and geopolitical risks, yet rate hikes would raise the opportunity cost of holding non-yielding bullion. "The overall momentum for gold appears to be weak... the upside may be limited given the fact that the market is pricing in five to six quarter point rate hikes by the Federal Reserve this year," Yang added.</p>.<p>Limiting gold's gains, the benchmark 10-year US Treasuries firmed near their highest levels in over two years.</p>.<p>If Russia invades Ukraine, US President Joe Biden said on Monday that the Nord Stream 2 gas pipeline would be halted while British Prime Minister Boris Johnson said sanctions and other measures will be ready.</p>.<p>The solid demand for safe haven assets like gold amid rising geopolitical tension has helped offset concerns of imminent monetary policy tightening by the US Federal Reserve, ANZ said in a note.</p>.<p>Silver fell 0.3 per cent to $22.93 per ounce, platinum was down 0.3 per cent at $1,016.49, while palladium inched 0.2 per cent up to $2,267.35.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>