WASHINGTON (dpa-AFX) - Gold prices fell on Friday amid easing geopolitical concerns and hopes for a diplomatic breakthrough next week to avert a feared Russian invasion of Ukraine.
Spot gold dropped 0.6 percent to $1,887.37 per ounce, while U.S. gold futures were down 0.7 percent at $1,889.25.
Risk assets were seeing a reprieve after U.S. Secretary of State Antony Blinken agreed to meet with Russian Foreign Minister Sergey Lavrov later next week.
Russia announced a new drawdown of military forces from the Moscow-annexed Crimean peninsula, raising hopes for a diplomatic resolution.
Separately, the G7 nations are ready for 'a serious dialogue' with Russia on the Ukraine crisis, German Foreign Minister Annalena Baerbock said today on the eve of crunch talks in Munich with her G7 counterparts.
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