Ukraine hits Russia with US missiles for first time
Silver at 1week peak, palladium at a near 2week high
Several Fed officials due to speak this week
Market sees 62 chance of 25 bps US rate cut in December

Nov 19 Reuters Gold prices climbed for a second consecutive session on Tuesday, hitting a oneweek high as mounting RussiaUkraine tensions sparked a rush for safehaven assets, while investors awaited key signals on the Federal Reserve39;s interest rate plans.

Spot gold rose 0.6 to 2,626.53 per ounce by 1011 a.m. EST 1511 GMT, hitting its highest level since Nov. 11. U.S. gold futures gained 0.6 to 2,630.00 per ounce.

On Monday, gold jumped 2, marking its biggest oneday rise since midAugust and rebounding sharply from a twomonth low hit last week.

We think that the overnight reports on Russia changing its nuclear doctrine following Ukraine39;s first longrange missile strike on Russian territory has led to some safe haven flows in gold, said Daniel Ghali, commodity strategist at TD Securities.

Barring another consolidation in prices, speculative investors just don39;t have enough dry powder in their war chest for gold to resume its upward trajectory at this juncture.

Gold39;s allure is bolstered by geopolitical tensions, economic risks and a lowinterest rate environment.

Multiple Fed officials are scheduled to speak this week, which could offer further insights into the rate cut paths.

Traders currently see a 62 chance of a 25basispoint cut in December….