Gold posted positive gains since Monday due to risk aversion amid rising tensions in the Russia-Ukraine war.
Following the sentiment, market participants are now turning back to safe-haven gold, dragging it back above $2,600 after a prolonged loss.
At 9.25am, the price of gold was at $2,637.37, up 0.20% since it opened in early trading on Wednesday in the Asian session.
Meanwhile, the conflict heated up again when President Joe Biden allowed Ukraine to use US missiles to attack Russia.
According to TASS, Russian President Vladimir Putin approved the nuclear doctrine in retaliation.
This fueled risk aversion sentiment with global equities falling while safe-haven assets such as gold and the USD currency are expected to continue to advance.
Russian Foreign Minister Sergei Lavrov stated that his country believes nuclear war will never happen.
Coming into the week, the US economic table will feature Initial Jobless Claims, S&P Global Flash PMI and the final reading of the University of Michigan (UoM) Consumer Sentiment for November.
