Gold fell on Monday as the threat of an escalation of tensions in Ukraine appeared to wane for now, and a rally in global equity markets and strength in the dollar sent bullion prices below $1,300 an ounce. Spot gold fell 0.4 percent to $1,299.34 by 2:17 p.m. EDT (1817 GMT), while US COMEX gold futures for December delivery settled down $6.90 an ounce at $1,299.30.
Among other precious metals, silver edged up 0.3 percent to $19.64 an ounce and platinum fell 0.9 percent to $1,439.50 an ounce. Palladium rose to a fresh 13-year high of $900.00 an ounce earlier on fears over supply from top producer Russia and strong demand prospects. The autocatalyst metal later inched down 6 cents to $890.44 as investors took profits.