Gold Whipsaws as Russia Says No Plan Yet for Biden-Putin Summit
- Russian President signed a decree on Monday, defying the West
- Move past $1,900/oz could be amplified by momentum buying: UBS
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Gold advanced after Russian President Vladimir Putin signed a decree recognizing the self-proclaimed separatist republics in eastern Ukraine, intensifying a standoff with the West.
Bullion swung between gains and losses over the day, earlier falling as much as 0.6% after statements from Washington and the Elysee that said both the U.S. and Russia had agreed to the summit proposed by French President Emmanuel Macron. Moscow later denied their were “concrete plans” to meet.