Gold prices fell almost completely disappeared yesterday's gains , as demand for safe assets today downgraded due to signs that Russia may be trying to avoid further military build-up in the Ukraine.

Yesterday the gold has skyrocketed after the West at the weekend threatened to take measures for the economic isolation of Russia , which increased the risks to the global economy.

However, Russian ruble and the sale of assets stopped on Tuesday, Russian President Vladimir Putin ordered the Russian military who participated in large-scale exercises near the border with Ukraine, to return to their bases . As a result , investors started to withdraw money from the safety of the yen .

Later, Putin said at a press conference that currently sees no need for the use of military in Ukraine.

However, judging by the latest reports coming from the Ukrainian border, two Russian warships blocked the Kerch Strait , which separates from the Kerch Peninsula Russian Taman.

Russian warships have been spotted on the Russian side of the channel.

On Monday, Prime Minister of Russia , Medvedev said that through the Kerch Strait bridge to be built on the basis of previously concluded a transit trade agreement between Russia and Ukraine.

Meanwhile, Russia has agreed to hold talks with NATO on Wednesday after Secretary General Anders Fogh Rasmussen said that the intervention of the country to Ukraine " violates the principles of the UN Charter ."

The cost of the April gold futures on the COMEX today dropped to $ 1331.20 per ounce.