By Gina Lee

Investing.com – Gold was up on Monday morning in Asia but remained little changed. Investors continue bracing for the , while concerns over inflation and geopolitical tensions in Eastern Europe burnish the yellow metal’s safe-haven appeal.

They were at $1,836.90 (11:12 ET) (4:12 GMT) and up 0.2%. After their week-end fall, Benchmark rose to 1.77% Monday.

Wednesday will see the Fed announce its policy decisions. A Reuters poll shows that the Fed is expected to increase monetary policy more quickly than usual to combat the persistently high level of inflation. This has been deemed the largest threat to America’s economy by 2022.

Additionally, the policy decision will be made on the same date as its U.S counterpart.

Tensions continue between Russia and the U.S. over Ukraine. The U.S. embassy in Ukraine expelled eligible relatives of its staff members on Sunday. As the threat of war grew, it also advised all citizens to flee the country.

Dominic Raab, the British Deputy Prime minister, warned Sunday that Russia will be subject to severe economic sanctions for installing a puppet system in Ukraine. Raab responded to claims that Russia wants to install a pro-Russian leader to power in Ukraine.

In India, gold prices were at an all-time low during the week. Rising domestic prices had a negative impact on demand. Jewelers also looked forward to February’s Union Budget 2022-22, presented by Nirmala Sitharaman, Finance Minister. Demand is also being driven by the Lunar New Year celebration in other Asian cities.

Other precious metals: Silver was flat at $24.23 per ounce, palladium was 0.3% lower, and platinum was 0.2% higher.