Doha: Gold prices eased on Tuesday as a slightly firmer dollar and optimism over a potential ceasefire between Russia and Ukraine dampened investor demand for safe-haven assets.

According to Qatar News Agency, spot gold was down 0.5% at $3,213.35 an ounce, while US gold futures slipped 0.6% to $3,215.50. Gold, often seen as a safe asset during geopolitical and economic uncertainties, has reached multiple record highs this year, marking an increase of approximately 23% so far.

In the broader precious metals market, spot silver fell 0.6% to US$32.17 an ounce. Platinum remained steady at US$998.04, and palladium saw a decline of 0.3%, settling at US$971.84.