Investing.com - Despite the ongoing political unrest in Russia, Gold Futures remained relatively stable on Tuesday, with a slight increase above their three-month lows. The US dollar also experienced growth as traders sought to protect themselves from potential fallout.
Over the weekend, an attempted coup occurred in Russia involving armed mercenaries led by Yevgeny Prigozhin. Though the uprising was unsuccessful, it has created uncertainty within financial markets. However, this geopolitical turmoil has not significantly impacted gold prices so far.
In addition to monitoring events unfolding in Russia, traders are closely watching economic data releases expected throughout this week, with reports concerning inflation rates and consumer sentiment could provide further insight into future rate hikes by the Federal Reserve.
As June comes to a close with its worst performance since February - down around $47 - analysts remain divided about how much influence geopolitics will have on global gold markets moving forward. Some suggest that continued instability may lead to increased demand for safe-haven investments like precious metals while others believe central bank policies will ultimately dictate price trends.
The full implications of recent events in Russia remain uncertain at this time; however, experts agree there is still potential for significant repercussions if tensions continue escalating domestically or internationally regarding conflicts such as those occurring between Ukraine and Russia.