Gold prices fall

Gold prices fell on February 25 morning after approaching the mark of $2,000 per troy ounce on February 24, Report informs.

The price of April gold futures on the Comex New York stock exchange fell by $10.85, or 0.56%, to $1,915.4 per troy ounce. March silver futures fell 1.26% to $24.375 an ounce.

The precious metal market saw a decline in prices on February 25 morning after the trading day earlier the price reached $1,976.5 per troy ounce, approaching $2,000. Demand for gold was facilitated by investors’ moving away from risk due to the escalation of the situation around Ukraine.

After Russian President Vladimir Putin recognized the sovereignty of the Luhansk and Donetsk 'people's republics' and announced a special military operation to demilitarize Ukraine, a number of countries decided to impose sanctions against Russia.

According to UOB analysts quoted by the Wall Street Journal, the growing geopolitical tensions increase the chances of a further short-term jump in gold prices.