Gold edged higher as geopolitical uncertainty increased following an attempted mutiny by Russian mercenary group Wagner, while investors weighed recessionary signals.
Bullion rose as much as 0.4% on Monday after closing 1.9% lower last week on hawkish commentary from US and European central banks.
Despite the uncertainty surrounding the turmoil in Russia, the haven upside for gold was limited after Wagner leader Yevgeny Prigozhin suddenly halted his dramatic advance toward Moscow over the weekend. While the instability could reverberate further, the initial reaction for gold was fairly muted.
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