Ella 
Gold prices (GOLD/USD) retreated after hitting a 1.5-week high earlier on Wednesday and fell below $2,630 to hit a fresh intraday low before the European session opened. A strong rebound in U.S. Treasury yields has boosted demand for the U.S. dollar and weakened demand for non-yielding gold, helped by bets that the Federal Reserve is unlikely to cut interest rates on a large scale.
In addition, the overall optimism in the stock market has prompted funds to stay away from the safe-haven asset gold, and the price of gold seems to have ended its two-day rise. However, the worsening conflict between Russia and Ukraine may continue to support the safe-haven precious metal and limit its further decline. Bears should remain cautious before establishing new short positions.
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