Gold Price News: Slight rise to USD 2,645, new missile attacks and geopolitical tensions

The gold price is currently trading at USD 2,645 per troy ounce, a slight increase on the previous day. This development reflects the increasing demand for safe investments, which is being triggered by ongoing uncertainties in geopolitical and economic areas. At the same time, the US dollar remains strong, which is slowing the precious metal's upward trend. Investors are watching developments with caution as the interplay of geopolitical tensions, US economic data and monetary policy decisions by the Federal Reserve continue to set the tone on the market. Technical analysis shows that the USD 2,650 mark remains a key resistance level, which if overcome could unlock further upside potential.

Following the recent attacks with ATACMS missiles, Ukraine has deployed British Storm Shadow missiles for the first time. According to reports, the attack was aimed at strategic targets in the Russian region of Bryansk. Russia's Foreign Minister Sergei Lavrov described the attacks as a sign of escalation on the part of the West and announced “appropriate countermeasures”, including the possibility of nuclear options. These threats are in the context of Russia's recently amended nuclear weapons doctrine, which lowers the threshold for use. While Ukraine and its allies see the attacks as a necessary part of defence, some international observers criticize the increasing escalation. The reactions of NATO and other Western countries will be decisive in determining the dynamics of the conflict.

While the G20 summit in Rio de Janeiro is being used as a platform for diplomatic talks, Russia's Foreign Minister Sergei Lavrov praised Germany's restraint in supplying long-range missiles to Ukraine. In talks with China's President Xi Jinping, Chancellor Olaf Scholz emphasized that arms deliveries from China to Russia were unacceptable. At the same time, the German government is under pressure to provide Ukraine with more support. Meanwhile, China rejects accusations that it is producing drones for use in Ukraine. These developments could further strain the already tense relationship between Western countries and China.

The situation in the Middle East remains tense, as evidenced in particular by Israel's intensive attacks on the Gaza Strip and targets in Lebanon and Syria. In the Gaza Strip alone, over 50 people have been killed in recent days, while an Israeli attack in Palmyra (Syria) claimed 36 lives. At the same time, further negotiations are showing signs of progress: Following talks in Beirut, US special envoy Amos Hochstein emphasized a “real chance” of a ceasefire between Israel and Hezbollah. The Lebanese government and Hezbollah have agreed to a proposal for a ceasefire, which, however, contains certain conditions. International actors such as France's foreign minister are appealing to all parties involved to support the ceasefire. A breakthrough in these negotiations could lead to a stabilization of the region in the short term, but remains uncertain.

The coming days are likely to continue to be dominated by geopolitical tensions. Threats from Moscow to consider nuclear measures are causing uncertainty on the markets. Developments in the Middle East, in particular possible progress in the ceasefire talks, could influence volatility in the short term. On the economic side, the focus is shifting to US economic data and speeches by Federal Reserve members. Investors are waiting for indications of how the monetary policy direction will affect the gold price. Technically speaking, the USD 2,650 per troy ounce area remains an important mark. A breakthrough could drive the price towards USD 2,700, while a fall below USD 2,600 could trigger further selling.