Oil and gold prices have fallen amidst optimism regarding potential progress on the Ukraine situation. Brent crude is down 0.7% at $66.13 per barrel, and spot gold has decreased by 0.9% to $3,369 per ounce. Donald Trump is set to meet with Vladimir Putin to discuss ending the war. Additionally, clarification is expected on U.S. tariffs affecting gold bars, causing disruptions in gold deliveries. Gemfields has sold Faberge for $50 million, following unrest affecting its ruby mining operations in Mozambique.
Gold prices have retreated as optimism for progress on Ukraine grows and investors take profits after recent gains. Spot gold fell by 0.9% to $3,369 an ounce.
Donald Trump announced a meeting with Vladimir Putin to negotiate an end to the Ukraine conflict, potentially influencing market conditions and investor sentiment.
The White House plans to clarify misinformation about import tariffs on gold bars, with recent U.S. tariffs significantly affecting the gold market and investor behavior.
Gemfields has sold its luxury brand Faberge to SMG Capital for $50 million as the company dealt with unrest in Mozambique, affecting its mining operations.
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