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Spot gold XAU= was up 0.1% at $1,926.56 per ounce by 0946 GMT.
U.S. gold futures GCv1 rose 0.4% to $1,930.70.
"We haven't seen any progress in the peace talks and
negotiations between Russia and Ukraine, so we have seen a
modest return of the risk-off scenario, which is lifting gold
prices," said Carlo Alberto De Casa, an external market analyst
at Kinesis.
"Gold price is moving in a lateral trading range... The first
directional signal would arrive only when gold can jump above
$1,950 or fall below $1,900."
Ukraine accused Russia of war crimes, overshadowing their peace
talks due on Monday. Meanwhile, Germany said the West would
agree to impose more sanctions on Moscow, causing share markets
to turn cautious. (Full Story) (Full Story) MKTS/GLOB
Further gains in the bullion were, however, capped as Friday's
solid jobs report for March cemented expectations of bigger
interest rate hikes by the U.S. Federal Reserve.
The dollar index =USD was buoyed as U.S. two-year Treasury
yields climbed to their highest since early 2019. USD/ US/
Gold is highly sensitive to rising U.S. interest rates, which
increase the opportunity cost of holding non-yielding bullion
while boosting the dollar, in which it is priced.
Investors are looking forward to any discussion of a 50 basis
point rate hike when the Fed releases minutes from its March
meeting on Wednesday.
"Hawkish Fed pricing and rhetoric to damp inflation, though a
cap on gold cheer to a degree, can support the narrative for a
'slower growth risk' bullion bid for the time being," Citi
Research said in a note.
Spot silver XAG= gained 0.4% to $24.71 per ounce, platinum XPT=
rose 0.4% to $989.81, and palladium XPD= jumped 2.1% to
$2,324.16.
(Reporting by Eileen Soreng in Bengaluru; Editing by Subhranshu
Sahu)
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