Gold price tumbles on Tuesday as the Greenback extends its minimal gains for the second straight day, while geopolitical developments suggest that a positive outcome of the US President Trump meeting with Putin, Zelenskiy and European leaders could put an end to the ongoing war. XAU/USD is trading at $3,317.
Rumors of a possible de-escalation of the Ukraine–Russia conflict weighed on Bullion prices, which usually benefit from global uncertainty. Last Friday, the meeting between US President Donald Trump and his Russian counterpart, Vladimir Putin, prepared the ground for a possible resolution.
Trump reunited with Ukraine's President Volodymyr Zelenskiy and other European leaders on Monday to set the stage for a possible ceasefire and push for a trilateral meeting to begin negotiations between Kyiv and Moscow.
US President Trump said that "Putin, Zelenskiy must be flexible" and that there would be some security guarantees for Ukraine to prevent another Russian attack. However, he said that he would not allow Ukraine to join NATO and added that European countries would supply ground troops.
Source: Fxstreet
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