Gold prices remained flat on Friday due to planned diplomatic talks between the US and Russian officials over Ukraine issue As of 1320 hours GMT, gold in the international market was available at $1,898.20 per ounce, shedding $1. Out of $1 per ounce decrease, -$0.70 was due to the dollar’s strength and -$0.30 was due to predominant sellers. The price of 10 grams of 24-carat yellow metal in Pakistan, meanwhile, slipped to Rs107,200. Gold in the local market was available at Rs107,300 per 10 grams on Thursday. The gold price surged to eight-month high a day earlier as prices remain at the mercy of the geopolitical developments concerning the Russia-Ukraine crisis. The expectations of an imminent Russian invasion of Ukraine has eased in anticipation of the planned diplomatic talks between the US and Russian officials. The volatility in the market and rising inflation has pushed investors towards safe-haven assets such as gold. The yellow metal prices rallied sharply this week after Fed officials signalled no rush to raise interest rates prior to their scheduled policy meeting next month as well as shying away from a half percentage-point move in March, despite inflation running at a 40-year high. However, if inflation keeps rising but interest rate hikes are far below that rise, there are negative real interest rates and that presents a very bullish backdrop for gold prices. From a technical perspective, the Relative Strength Index (RSI) on the daily chart holds well above the central line, suggesting that the bullish potential remains intact. However, momentum beyond the $1,900 mark is more likely to confront stiff resistance and remain capped near the $1,908-$1,910 region. This should act as a key pivotal point, which if cleared will set the stage for an extension of the upward trajectory. Gold has key resistance around the $1,920 to $1,930 zone but if that level is breached, bullish momentum could support a move towards the $1,970 level.” On the flip side, the $1,895 now seems to protect the immediate downside ahead of the $1,870-$1,868 support zone. If this powerful cushion gives way, then the correction could resume towards $1,885. Further south, the demand zone around $1,881 will come into play.