Gold prices eased from a one-week high on Wednesday as the dollar strengthened, though safe-haven demand linked to Russia-Ukraine tensions helped cap further losses. Spot gold was down 0.4% at $2,622.

The increase comes as the global gold market reacts to a weaker US dollar and rising geopolitical tensions, particularly between Russia and Ukraine.

Gold prices once again jumped as Russia-Ukraine conflict, US Fed's interest rate plans have made things interesting.

Gold prices rose nearly 1% on Monday after last week's sharp decline, as a rally in the dollar paused, while market players awaited comments from Federal Reserve officials for more clues on the U.S. interest rate path.

Gold rate increased on Wednesday. The rate of 24 carat gold is ₹7725.3 per gm, up by ₹760.0. The rate of 22 carat gold is ₹7083.3 per gm, up by ₹700.0.24 carat gold's rate has changed in the last one week by 1.