Gold prices edged higher on Monday morning, clawing back from a two-week low as investors turn their attention to ongoing peace discussions involving Donald Trump, Volodymyr Zelensky and European leaders.
The moves follow Trump’s Friday summit with Vladimir Putin in Alaska, where tentative proposals were put forward to end the conflict in Ukraine.
At the time of writing, spot gold Gold (XAU/USD) traded at $3,347.77 an ounce, having bounced from $3,325 after early weakness. Buyers stepped in at that level, while easing US treasury yields also helped gold’s recovery.
According to reports, the draft peace plan would see Russia retain some occupied territory, while Ukraine concedes eastern areas Moscow has yet to seize. Trump’s talks with Zelensky are seen as critical for testing whether such proposals can gain traction.
The gold market reflects that uncertainty. Demand remains solid as investors wait for confirmation of progress. A genuine breakthrough could push equities higher, weigh on oil and soften gold demand. Failure or delay would likely have the opposite effect, boosting oil, denting stocks and reviving the safe-haven bid for gold.
Trump has also held off from imposing tariffs on Russian oil imports, a move that calmed fears of sudden supply shocks. Yet he warned such measures remain possible within weeks, keeping energy markets-and gold-on alert.