Gold Price News: USD 2,670 reached - focus on escalating conflicts and global tensions

The price of gold has risen again today, reaching USD 2,670 per troy ounce. This development reflects the continued appeal of gold as a safe haven investment as geopolitical tensions and economic uncertainties dominate global markets. The market is approaching the key resistance level of USD 2,673, while analysts expect further momentum up to the USD 2,700 mark. Technical indicators point to a continuation of the bullish trend, which is supported by the geopolitical situation and a possible slowdown in the Federal Reserve's interest rate cut expectations.

The International Criminal Court (ICC) in The Hague has issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu, former Defense Minister Yoav Gallant and Hamas military chief Mohammed Deif. The charges include war crimes and crimes against humanity, which in particular include the deliberate denial of basic means of survival such as food, water and medical care in the Gaza Strip.

Reactions to the decision are divided. Netanyahu described the arrest warrants as “Anti-Semitic decisions” and rejected the court's jurisdiction. The Central Council of Jews in Germany and high-ranking Israeli politicians joined in the criticism. Hamas, on the other hand, described the decision as a “historic step”, even if it did not comment on the accusations against Deif. Within the European Union, Josep Borrell called on the member states to implement the arrest warrants, while Hungary's Prime Minister Viktor Orban condemned them as “absurd and disgraceful”.

Ukraine has apparently attacked the headquarters of the Russian Kursk offensive with Western cruise missiles. The target is said to have been an assembly of 50,000 troops, including 10,000 North Koreans. At the same time, Ukraine claimed that Russia had fired an intercontinental ballistic missile at the industrial city of Dnipro for the first time, while Moscow spoke of a new experimental medium-range missile. Ukrainian President Volodymyr Zelensky warned that Russia was using Ukraine as a “testing ground” for new weapons systems.

Meanwhile, the USA has provided Ukraine with anti-personnel mines and imposed extensive sanctions against the Russian Gazprom bank. President Joe Biden is trying to mobilize maximum support for Ukraine before the change of office to Donald Trump. Meanwhile, Russia threatened retaliatory strikes against Western supporting states and described the conflict as a “global war”.

New research confirms the growing propaganda and economic activities of the Russian mercenary group Wagner in Africa. Reports from the Central African Republic show how pro-Russian narratives are spread by local journalists in return for payment. The focus is on Russia's economic interests, in particular access to resources such as gold and timber. Observers see this as a deliberate attempt by Moscow to expand its geopolitical influence in Africa.

Geopolitical tensions and uncertainty about future monetary policy in the US continue to drive gold prices. While the market is expecting high volatility in the short term, new economic data and speeches by central bank representatives could provide clues as to future developments. Resistance at USD 2,700 is seen as a crucial point. In the long term, gold remains a key anchor of stability for investors due to the geopolitical situation.