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Russia-Ukraine tensions appear to be spreading

Russian President Vladimir Putin today, November 22, announced that the test of a medium-range missile complex carrying an Oreshnik supersonic warhead was successful. A day earlier, Russia attacked the Southern Machine Manufacturing Factory (Yuzhmash) in Dnipro (Ukraine), saying this was a move in response to Ukraine's use of ATACMS missiles supplied by the US with Storm Shadow missiles from the UK.

This week, gold prices increased by 5.7% - recording the strongest weekly increase since March 2023 - when the local banking crisis in the US broke out. The price has increased for 5 consecutive versions, for a total of more than 170 USD.

Gold is the preferred tool during any political, economic upheaval and low interest rates. The price went up despite the Dollar Index reaching a 2-year peak today and Bitcoin setting a new record at 99,768 USD per coin.

The gold market also ignores that the probability of the US Federal Reserve (Fed) easing monetary policy next month is gradually decreasing. Investors currently forecast that the possibility of the Fed cutting interest rates is only 53%, down sharply from 82% last week.

🔥 XAUUSD BUY 2672 - 2670🔥

💵 TP1: 2680
💵 TP2: 2690
💵 TP3: OPEN

🚫 SL: 2660