Gold held steady on Monday after hitting a one-week low, with attention turning to U.S. President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy and European leaders to discuss a peace deal with Russia.

Spot gold was up 0.1% at $3,340.71 per ounce, as of 0040 GMT, after hitting its lowest level since August 1.

U.S. gold futures for December delivery rose 0.1% to $3,385.70.

European leaders are set to join Zelenskiy on Monday for discussions with Trump.

Russia would relinquish tiny pockets of occupied Ukraine and Kyiv would cede swathes of its eastern land which Moscow has been unable to capture, under peace proposals discussed by Russia’s Vladimir Putin and Trump at their Alaska summit, sources briefed on Moscow’s thinking said.

Benchmark 10-year U.S. Treasury yields hovered at near two-week high level, while U.S. dollar index inched lower, making gold less expensive for overseas buyers.

Investors are also looking ahead to the Federal Reserve’s annual symposium in Jackson Hole, Wyoming, for insights into interest rate cuts paths.

Last week, consumer and wholesale price data appeared to send mixed signals regarding the economic impact of Trump’s import tariffs.

Economists polled by Reuters largely expect the Fed to announce a rate cut in September, its first this year, with a possible second cut by the year-end as concerns mount over the U.S. economy.

Non-yielding bullion, considered a safe-haven assets during periods of uncertainity, tends to perform well in low-interest-rate environment.

Meanwhile, a planned visit by U.S. trade negotiators to New Delhi from August 25-29 has been called off, a source said.

Elsewhere, spot silver rose 0.2% to $38.07 per ounce, platinum gained 0.3% to $1,339.30 and palladium was up 0.8% to $1,121.