Gold flat as Russia jitters, hawkish Fed outlook weigh

Gold prices remained steady on Tuesday, slightly above their three-month low, while the US dollar gained strength, with traders opting to hedge against political chaos in Russia and the Federal Reserve’s hawkish outlook. Spot gold traded at $1,923.94 per ounce, while US gold futures remained flat at $1,933.90. Safe-haven investments such as gold and the dollar surged following the aborted mutiny in Russia over the past weekend. Economic data, rate-hike trajectory from Fed Chair Jerome Powell, and the quarterly refresh of JPMorgan’s nearly $16 billion Hedged Equity Fund’s options positions are being observed by the market closely.