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Gold depreciates against the background of easing tensions in Ukraine, but a stable dollar limited the losses, and the price of the metal is kept in the $ 1,300 per ounce.
Russia's Foreign Ministry said on Monday that the negotiations between Russia, Germany, France and Ukraine in Berlin on Sunday about ways to end the armed conflict in eastern Ukraine has been made "some progress".
European stock markets rose after reducing the threat of further escalation of the conflict in Ukraine, although the situation remains difficult.
Dollar unchanged against a basket of currencies after the sixth consecutive week of falling, while the yield on 10-year Treasuries was close to a 12-month low reached at the previous week.
In addition to geopolitics, from 21 to 23 August, investors will be focused on the meeting of leading officials from central banks and economists in Jackson Hole, Wyoming.
Investors will be watching the speech from Fed Chairman Janet Yellen, who will perform for the first time on Friday in Jackson Hole at the head of the Central Bank of the USA.
On Wednesday, the Fed will publish the minutes of its July policy meeting, while the gold traders are waiting for any signs of a future increase in interest rates by the bank.
The Central Bank of the United States, is expected to raise interest rates in the middle of next year, depending on the strength of the economy. Higher interest rates will encourage investors to withdraw money from assets such as gold.
Standard Bank analyst Walter de Wet said the market does not expect the Fed's policy changes this week. "Range $ 1.284- $ 1,300 provides very good support ... the pricing in the market for the most part depends on the level of political tension," - he said.
The cost of the October gold futures on the COMEX today dropped to $ 1295.80 per ounce.
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