Gold Price News: Gold price shows downward trend

The gold price is continuing its downward trend and is currently trading at USD 2,605 per troy ounce. This decline follows the general trend, which has intensified since the recent political developments in the USA and geopolitical tensions. The price movements reflect the increasing uncertainty on the markets, which is characterized by US politics and the military situation in Ukraine and the Middle East.

The military situation in the Middle East continues to escalate. Israel has once again carried out attacks on the Lebanese capital Beirut. Areas considered to be strongholds of the Hezbollah militia were particularly affected. Clouds of smoke could be seen over the city after Israel called for an evacuation and then bombed the area. Added to this is the announcement that the Israeli government intends to pursue its plans for the partial annexation of the West Bank. These developments are putting a considerable strain on regional stability and are having an impact on global markets, as investors are increasingly looking for safe investments.

In Ukraine, the pressure on the defense forces is increasing due to an intensified Russian offensive. In the Kursk region in particular, Russian and North Korean troops are preparing for a comprehensive counter-offensive. US media report that Russia has amassed tens of thousands of soldiers in the region. In eastern Ukraine, particularly in the Kharkiv and Donetsk regions, the situation for Ukrainian troops is increasingly deteriorating. The Ukrainian armed forces have ordered several forced evacuations in various locations as Russian troops are increasingly using drones and glide bombs to break through the defense lines. The military situation remains tense, which continues to unsettle the gold market and is currently reflected in the falling gold price.

Donald Trump's return to the White House is causing additional uncertainty. Trump is planning to possibly reduce or completely discontinue US support for Ukraine. His future National Security Advisor Mike Waltz is in favor of European countries making a greater contribution to aid for Ukraine and is also calling for the restrictions on long-range weapons supplied to Ukraine to be eased. During the election campaign, Trump emphasized that he wants to end the conflict in Ukraine quickly. However, it is currently unclear what steps he plans to take to achieve this. This uncertainty is leading to volatility and uncertainty on the markets, which is having a significant impact on the gold price.

While the USA is reconsidering its stance on Ukraine, EU chief diplomat Josep Borrell reaffirmed the European Union's determination to continue supporting Ukraine during a visit to Kiev. Borrell assured that the planned delivery of one million artillery shells will take place by the end of the year. These pledges come at a time when Ukraine is in need of additional military support in the face of the Russian offensive.

The gold price remains volatile and is moving towards a possible support level of USD 2,600. Should the price fall below this level, further declines towards USD 2,575 could follow. A rise above USD 2,650 could bring short-term stability. However, the market remains tense in view of the uncertainties. Analysts see the current geopolitical situation and political changes in the USA as the main factors for future price movements.

The geopolitical conflicts and the unclear direction of US foreign policy under future US President Trump could continue to influence demand for gold in the coming weeks. The situation in Ukraine and the Middle East is increasing the long-term interest in gold as a safe-haven investment, but Trump's policies are currently putting pressure on the gold price and causing a short-term weakening.