Gold Price News: USD 2,594 – Geopolitics and Fed policy shape the markets

The gold price on today's trading day is USD 2,594 per troy ounce, which represents a slight increase compared to the previous day. This movement is influenced by a combination of geopolitical tensions and monetary policy decisions by the US Federal Reserve. While geopolitical uncertainties continue to support demand for gold, the strong US dollar remains a burdening factor, which limits the upward movement.

The Federal Reserve left key interest rates unchanged at its meeting yesterday, but signaled a more cautious approach to future rate hikes. This announcement is interpreted by the markets as a potential turning point from which gold could benefit in the medium term.

The ongoing tensions in Ukraine continue to dominate the geopolitical situation. After the killing of Russian General Igor Kirillov, Moscow has announced tighter security measures and hinted at further military action in the region. These developments are causing nervousness in the markets and are increasing interest in safe havens such as gold.

Tensions also remain high in the Middle East. Israeli attacks on Syrian military positions and the international community's reactions are adding to the uncertainty. Investors are watching developments closely, as any escalation could have a direct impact on risk sentiment.

Gold prices continue to trade in a narrow range between USD 2,580 and USD 2,620. The USD 2,580 support level is currently being tested and is considered crucial to prevent further losses. If this level holds, a recovery towards USD 2,620 could begin. A breakthrough above this resistance could pave the way for a move towards USD 2,650.

Technical indicators remain mixed: the Relative Strength Index (RSI) is just below 50, indicating a neutral market. At the same time, the Moving Average Convergence Divergence (MACD) continues to show weakness, suggesting that the sideways movement will continue. Trading volumes remain moderate, reflecting investors' wait-and-see attitude.

Investors continue to watch monetary policy signals from the US and geopolitical developments in Europe and the Middle East. In the short term, the price of gold should remain supported by global uncertainties, while the strength of the US dollar and capital flows into higher-yielding asset classes such as technology stocks will slow the upward trend.

A breakthrough above the USD 2,620 mark could provide positive impetus in the short term. However, especially in view of the ongoing geopolitical risks and growing economic uncertainty in Europe and the US, gold remains a stable factor in uncertain times in the medium to long term.