By Gina Lee

Investing.com – Gold was up on Tuesday morning in Asia, easing after strong performances over the last few sessions. Demand for safe-haven yellow gold was dampened by the end of the ceasefire talks between Russian officials and Ukrainian officials, and Western countries applying more sanctions to Russia.

After gaining over 1% in the preceding session, they were up 0.3% to $1.906.45 at 11:20 ET (4:20 GMT).

After Russia invaded neighboring Belarus, four days later, Ukrainian and Russian officials initiated ceasefire discussions near the Belarusian frontier. But, Russia has not indicated that it intends to halt the invasion.

The Central Bank of the Russian Federation, also known as the Bank of Russia, raised Monday’s key policy rate from 20% to 20%. It also introduced capital controls. Elvira Nabiullina, Governor of Russia’s Central Bank of Russian Federation (Bank Of Russia), said that sanctions have prevented the central bank selling foreign currency in order to stabilize the rouble.

Expectations are that more Western businesses will leave Russia, including Shell (LON) and BP (NYSE).

Asia Pacific showed that February’s was 51.6, while it was 52.2. This was the 50.4.

According to central bank news, it kept its interest rates steady at 0.10% while it passed its latest policy decision early in the day. While the European Central Bank will release its minutes from the February 2022 European Central Bank meeting, it handed down its policy decision Wednesday.

SPDR Gold Trust’s (P:), holdings increased 0.2% to 1,029.02 tonnes on Monday. Other precious metals saw palladium rise 0.2% to $2.494.00 after reaching its highest point since July 2021, at $2.7111.18, during the week before. Silver dropped 0.5% while platinum fell 0.2%.