Gold prices fell on Monday from a three-month peak reached at the previous session under pressure from the strengthening of the US dollar and bond yields, but the fall in prices was halted by rising tensions around Ukraine, supporting demand for bullion.

The spot gold price was down 0.25 percent to $1,855.36 a troy ounce by 12:15 MSC.

The dollar and currencies considered safe-haven are weighing on gold, holding their ground, while 10-year U.S. Treasury yields are also rising.

Higher government bond yields reduce demand for bullion, raising the opportunity cost of holding gold that doesn’t pay interest, and a stronger dollar makes the metal less attractive to overseas buyers.

“Alternative long positions opened in anticipation of the momentum of Friday’s move rather than anything longer term are pulling back a bit and there is a slight consolidation around these levels,” said Ilya Spivak of DailyFX.

However, “the situation in Ukraine poses a significant risk because to the extent that it causes volatility, it could drive bond yields lower again, which would support gold,” the analyst added.

Palladium rose 0.44% to $2,317.08 an ounce, while silver added 0.65% to $23.72 an ounce. The platinum price slipped 0.29% to $1,024.57.