Gold sheds on Russia-Ukraine talks, Fed rate hike

Gold extended slide on possible ceasefire between Russia and Ukraine that caused safe-haven aversion.

Meanwhile, markets bet that the US Federal Reserve tends to raise interest rates for the first time in three years to retake control on higher inflation.

It should be noted that US consumer price index (CPI) rose 7.9% in February (Y/Y), the highest 12-month increase since January 1982.

Spot gold shed 1.8% to trade at $1926.9 per ounce on 13:41 GMT and extending slide.