On Monday (November 25), gold opened in Asia skyrocketing to a high of $2721, fueled by heightened risk aversion due to the Middle East war and the Russia-Ukraine conflict. Hezbollah fired heavy rockets at Israel, and the Israeli military launched a massive attack on Beirut. Russian President Putin signed a law exempting new soldiers from debt incurred while fighting in Ukraine, and Russia launched a new medium-range missile last week.

(Source: FX168)

According to Reuters, the Lebanese Hezbollah movement fired heavy rockets at Israel on Sunday, with the Israeli military stating that houses near Tel Aviv were destroyed or burned. The day before, powerful airstrikes launched by Israel caused at least 29 deaths in Beirut. #MiddleEastSituation#

(Source: Reuters)

Israel also attacked southern suburbs of Beirut controlled by Hezbollah, which have faced increasingly intense bombardment over the past two weeks, while signs of progress have emerged in the US-led ceasefire negotiations.

The Israeli military stated that Hezbollah fired 250 rockets at Israel, many of which were intercepted, and sirens sounded across most of Israel. At least 4 people were injured by shrapnel.

Videos obtained by British media show a projectile hitting the roof of a building in the northern Israeli city of Nahariya and exploding.

According to sources from Lebanese security agencies, the Israeli military warned on social media that they plan to target Hezbollah facilities in southern Beirut before launching an attack to destroy two apartment buildings. Subsequently, the Israel Defense Forces stated they attacked a command center "deliberately embedded among civilian structures."

On Sunday, the Israeli military reported that they had attacked 12 Hezbollah command centers located in the suburb of Dahieh in southern Beirut. On Saturday, Israel launched one of the deadliest and fiercest attacks in its history on downtown Beirut.

The Lebanese Ministry of Health raised the death toll from 20 to 29 on Sunday. The ministry stated that a total of 84 people died on Saturday, and the total number of deaths since October 2023 has reached 3,754.

The Israel Defense Forces did not comment on the attack that occurred in the Lebanese capital on Saturday, nor did they disclose specific details of the attack.

The Gaza War has led to nearly a year of hostilities, after which Israel launched an offensive against Iranian-backed Hezbollah in September, conducting airstrikes in the south, Bekaa Valley, and the suburbs of southern Beirut.

AP News reported that Putin signed a law relieving new soldiers entering the war in Ukraine of their debts. The final version of the bill was published on the government website on Saturday, emphasizing Russia's need for military personnel in nearly three years of war. #RusUkrWar#

(Source: AP News)

According to reports from the Russian state news agency International Information Agency, the new regulations allow individuals who sign one-year contracts to write off bad debts of up to 10 million rubles, approximately 96,000 USD. This law applies to debts for which court orders have been issued for collection and that have begun enforcement procedures before December 1, 2024; it also applies to the spouses of new recruits.

Russia has intensified its military recruitment efforts, offering increasingly generous financial incentives to soldiers willing to fight in Ukraine, with some rewards even being several times the average salary.

GoldTechnical analysis: Buyers of gold are targeting around 2800 USD.

FXStreet analyst Christian Borjon Valencia noted that the upward trend of gold will continue, with prices expected to challenge 2750 USD again. Gold broke through the 50-day moving average last week.Simple Moving AverageAfter the $2663 of the (SMA), it prompted buyers to push up the spot price of gold.

In this environment, if the gold price breaks through $2750, the next step will be to break through the historical high of $2790. A breakthrough at that level will expose the $2800 threshold and pave the way to test $3000, which goldman sachs considers the next major resistance level.

On the other hand, if the gold price falls below $2700, then this non-yielding metal may start to fluctuate in the range of $2650 to $2700, unless the bears break through the swing low of $2536 from November 14 and then break through $2500.

Relative Strength Index(RSI) has turned into a call trend, indicating that buyers are in a dominant position. #VIP members exclusive#

(Source: FXStreet)