Gold extends to the highest level ever, as Putin requires an immediate end of delivery operations to Ukraine
- Gold advances and determines the highest new level ever.
- Traders add to their precious metal sites after the Israeli strikes in Gaza ends a ceasefire deal.
- Gold has an area to stretch up with a German vote on spending and a TROMP-Putin phone call forward.
The price of gold (Xau/USD) rises again and reaches the highest new level ever at $ 3,028 on Tuesday. The precious metal is trading about 3,021 dollars at the time of writing this report. The rise comes after Israel carried out military operations in the potential enthusiasm of Hamas’s tactical situations and buildings. This step is seen as the end of the ceasefire deal, which started in January, and more red marine attacks are likely to bring in the Houthi rebels and revenge by Hamas as an anti -interference response by Israel.
The failure of the ceasefire comes just hours before the United States (United States) President Donald Trump owns a phone call to Russian President Vladimir Putin to reach a final agreement to end the war in Ukraine. Fears are abundant after Trump said on Sunday that Russia and the United States divide assets among them, which means that Ukraine has no information in this process while Trump exceeds the NATO and the European Union (EU). Meanwhile, the German parliament, the Bundestag, will vote on Tuesday on a new budget that can enhance defense spending by about $ 49 billion, according to Bloomberg’s reports.
Daily Digest Market Movers: Putin’s demands look endless
- Just hours before the possible historic phone call between US President Trump and Russian President Putin, details are leaked on Russia’s demands before concluding a deal. One of these demands is that President Putin is calling for an immediate end to the weapons that are being delivered to Ukraine, according to Bloomberg.
- Many analysts indicate that slow American data is another driver that benefits gold. The flow of buyers on this commodity on Monday after the Slow United States is somewhat slow that with the transformation of economic feelings in the United States, gold benefits from merchants looking for safe origins, according to Bloomberg’s reports.
- With the next Federal Reserve (Fed) on Wednesday, the chances of maintaining interest rates in the current range are 99 %. Meanwhile, the possibilities for lowering the next June meeting by 68.6 %, according to the CME Fedwatch tool.
- The global silver market suffers from stress, as it comes to investors in the trade war, where the main indicators are flashing in red, millions of ounces in moving between trading centers, and months of turmoil in possibilities. An increase in precious metal metal rates has become the last sign of alert, according to Yahoo’s financing.
Technical analysis: more bullish feeding with harmful growth
Gold merchants have several reasons and arguments for anyone to push gold up. When many banks start contacting $ 3,200, they set a clear goal for the coming weeks and months. However, traders will need to be taken into consideration that once the markets are placed in one direction, this is the moment when the transformation can occur.
Daily resistance levels R1 and R2 were already taken out on Tuesday. This means that large numbers are used as instructions from here outside. Look for $ 3,020 and $ 3,030 as the next anchor points in trading during the day.
On the negative side, the R1 and R2 resistance should be in the day as support now. This means that $ 3,014 and $ 3,007 must support any brief decrease. The axis point inside the day is 2,994 dollars is the first line of defense in the event of cracks of 3000 dollars under the pressure pressure.
Xau/USD: Daily chart
