Spot gold slipped 0.2% at $2,730.09 per ounce, as of 01:55 GMT.
U.S. gold futures fell 0.2% to $2,742.80.
"In the next three months, gold may reach $2,800, and from the annual perspective, it can surpass the psychologically important $3,000 barrier."
The U.S. asked the Group of Seven allies to consider sanctions on Russian palladium and titanium, Bloomberg News reported.
It benefits from its dual role of monetary value and as an industrial metal with growth driven by the breakneck growth of photovoltaics," said Paul Wong, market strategist at Sprott Asset Management.
Persons:
Alexander Manzyuk Gold, Julia Khandoshko, Nornickel, Daniel Hynes, Silver, Paul Wong
Organizations:
REUTERS, Bloomberg News, ANZ, Sprott Asset Management
Locations:
Siberian, Krasnoyarsk, Russia, Gaza . U.S, Doha, Gaza, U.S