• Gold extends rally to $2,650, shrugging off a rising US Dollar amid demand for safe-haven assets.
• Escalation in Russia-Ukraine conflict and nuclear threats from Putin contribute to the surge in Gold.
• Fed Governors' comments provide mixed insights on the potential direction of US monetary policy in December.

Gold price climbs extending its gains for the third straight day, shrugs off a buoyant US Dollar as risk aversion boosts safe-haven assets. The golden metal has risen over 3.40% during the week, with buyers eyeing the $2,700 mark. The XAU/USD trades at $2,650, up 0.69%.

Bullion’s decline toward a two-month low of $2,536 can mainly be attributed to investors booking profits after President Donald Trump's victory in the US elections. Fears that some of his proposals could spark a reacceleration of inflation sent US Treasury yields soaring and underpinned the Greenback.

Nevertheless, Bullion prices had risen due to the escalation of the Russia-Ukraine conflict.

On Tuesday, Russian President Vladimir Putin authorized the use of nuclear weapons in retaliation to the West. Reports revealed the White House authorized Ukraine's use of American weapons inside Russia, according to officials.

In the meantime, the American currency advances 0.51% in the day, according to the US Dollar Index (DXY), which tracks the buck's performance against six other peers. The DXY is at 106.69 after sinking to a five-day low of 106.11.