By Gina Lee

Investing.com – Gold was up on Tuesday morning in Asia, heading towards a three-month peak hit during the previous session. Investors continue to withdraw from more risky assets due to Russia’s looming invasion of Ukraine.

The gain was 0.58%, to $1888.15 at 11:36PM ET (4:36 GMT) after they reached their highest point since Nov. 16 with $1,873.91 in the preceding session. In nine out of 11 sessions, the closing price was higher.

Global shares fell on Monday, while oil climbed to seven-year highs, as the U.S. warned of an imminent Russian invasion of Ukraine and decreased investors’ risk appetites.

Benchmark saw a decrease, which also gave the yellow metal, safe-haven and a boost.

Data from Asia Pacific released earlier today showed that the region saw a 1.3% increase in GDP and 5.4% growth in fourth quarter 2021. The country saw a decline in COVID-19-related cases, which helped increase consumption. However, increased raw material costs and an increase of Omicron variant infection clouded the outlook.

The Reserve Bank of Australia released the earlier that day. On Wednesday, the U.S. Federal Reserve will release the.

Fed officials are still debating how aggressive future interest rate increases should be before their March 2022 meeting. China will release its interest rate increase one day earlier than the U.S., while China’s is released later.

Silver and platinum were both up 0.2% in other precious metals. After hitting its high point in almost two weeks, Palladium rose 0.3% to $2.368.33 on Monday.