Gold prices rose on Wednesday, supported by a dip in the U.S. dollar and Treasury yields, though signs of progress in Russia-Ukraine peace talks dented the metal’s appeal as a safe haven and kept gains in check.

Spot gold was up 0.3% to $1,923.95 per ounce by 0210 GMT. U.S. gold futures rose 0.5% at $1,927.70.

The metal fell as much as 1.8% on Tuesday to its lowest since Feb. 28 at $1,889.45.

“(Weaker) dollar has provided a level of support for gold…bond prices bounced from a key level of support yesterday which helped push yields lower despite the supposed risk-on rally seen across equities. And that’s provided another pillar of support for gold,” City Index senior market analyst Matt Simpson said.

Underpinning gold, investors remain wary over Russia’s true intentions over their pledge to scale down ‘military operations’, he added.

Ukraine reacted with scepticism to Russia’s promise in negotiations to scale down military operations around Kyiv and another city as some Western countries expected Moscow to intensify its offensive in other parts of the country.

The dollar index slid to a more than one-week low in the previous session, making gold less expensive for other currency holders. [USD/]

U.S. benchmark 10-year yields also slipped from near three-year highs, and lower yields decrease the opportunity cost of holding non-yielding bullion. [US/]

Holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, slipped 0.2% to 1,091.44 tonnes on Tuesday. [GOL/ETF]

Spot silver was up 0.1% at $24.78 per ounce and platinum rose 0.9% to $991.49.

Palladium gained 1.5% to $2,182.15, after dipping to a more than two-month low of $2,032.97 in the last session.

The auto-catalyst metal has tumbled nearly 40% since scaling an all-time peak on March 7 as supply concerns from Russia eased.