Gold rises as Russia Ukraine peace talks make no progress

Gold rises as Russia Ukraine peace talks make no progress

Gold was up in Asia on Friday morning, putting it on track for its third weekly gain in a row. The yellow metal rose after Russia and Ukraine failed to make significant progress in peace talks, but its gains were limited by rising US yields.

Gold futures rose 0.01 percent to $1,962.4 per ounce. Policymakers at the central bank also hinted at a more robust approach to inflation control.

The Federal Reserve of the United States is likewise tightening its monetary policy, raising the interest rate to 0.5 percent in its most recent policy announcement last week.

Silver climbed 0.6 percent and platinum gained 1% in other precious metals. The US will try to sell 15 billion meter cubic of LNG to markets in the European Union.

Domestic production provides about 10% of the EU’s gas demand. Russia normally contributes 41% of the remainder of the bloc’s requirements.

Germany’s economy ministry hopes to reduce the country’s reliance on Russian oil by half by the summer and eliminate imports of Russian hard coal. The market is also experiencing a liquidity shortage, making prices susceptible to large swings.

The action comes as Western countries attempt to project a united front in the face of Russia’s month-long invasion of Ukraine.

Although many customers, particularly former European consumers, are avoiding Russian crude, Asian buyers may be stepping in to take barrels at a discount.

The German government is looking into potential areas in the North Sea and Baltic Sea. If the situation in Ukraine post-Russia’s invasion does not improve, global food prices will continue to climb. Ukraine has $7.5 billion in grain stocks for export.

For its 32 affiliated sports clubs, the National Football League would eliminate its ban on crypto and blockchain-related advertising, marketing, and collaboration agreements.

Only NFTs and the firms behind the initiative will be allowed to be advertised under the new restrictions. During its annual general meeting, LG added two distinct crypto-related objectives.

LG Electronics, a South Korean IT powerhouse, has announced the addition of blockchain and cryptocurrencies as new business sectors.

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