Gold continued to trade green following the actions of Russian President Vladimir Putin which again triggered risks in the market causing demand for safe-havens to rise again.
Earlier, gold prices had retreated from the $ 1,900 price level following reports suggesting a possible meeting between US President Joe Biden and Putin earlier in the week.
However, the decline recorded a limited return after Russia said no plans were still made for the meeting, sparking speculation that a possible attack on Ukraine still exists.
The yellow metal then soared higher after Putin declared two provinces in eastern Ukraine (Luhanks and Donetsk) as independent entities on Monday and ordered Russian troops to launch ‘peacekeeping operations’ into the area.
This has sparked concerns that the conflict between Russia and Ukraine is worsening, especially after America and Europe acted to impose sanctions on the Kremlin.
In the Asian session, spot gold traded strong at $ 1,907 an ounce, not far from a 9 -month high after touching the $ 1,1913 price level at the start of trading.
