#俄乌战争 # #中东局势 # #黄金Technical analysis#24K99讯 On Tuesday (November 26), spot gold rebounded sharply after hitting a one-week low of nearly $2,605 per ounce, and finally closed above $2,630 per ounce. Analysts pointed out that although Israel agreed to a cease-fire agreement with Lebanon, which hit safe-haven demand, market concerns about the escalation of the Russian-Ukrainian war and Trump's tariff plan provided momentum for a rebound in gold prices.
Spot gold closed up about 0.3% to $2632.67 per ounce on Tuesday. The price of gold fell to 2605.15 US dollars/ounce in early Tuesday trading, the lowest point since November 18.
FXStreet analyst Christian Borjon Valencia pointed out that despite news of a cease-fire in the Middle East, the price of gold continued to rise on Tuesday. Optimism about a cease-fire between Israel and Hezbollah has weakened the goldSafe haven assetsThe appeal, but Trump's tariff threat has raised concerns about a global trade war, which supports the price of gold. Furthermore, the fall in gold prices was limited by the escalation of the conflict between Ukraine and Russia.
Biden: Lebanese-Israel cease-fire agreement will take effect
On Tuesday local time, US President Joe Biden spoke at the White House about the cease-fire agreement between Israel and Hezbollah in Lebanon. Biden said he spoke on the phone with Israeli Prime Minister Binyamin Netanyahu and Lebanese Prime Minister Mikati, and the two said they had accepted the agreement. Biden also thanked French President Emmanuel Macron for his efforts to reach an agreement.
Biden said the agreement will take effect at 4 a.m. local time on Wednesday. The agreement is aimed at a permanent cessation of hostilities. Over the next 60 days, Israel will gradually withdraw its remaining forces, and the Lebanese army and national security forces will begin deploying on their own territory.
The Russian army launched a “record” number of 188 drone attacks
However, the market is still very concerned about the wider impact of the escalation of the Russian-Ukrainian war, so the downside of gold prices is limited.
Peter Grant, vice president and senior metals strategist at Zaner Metals, said: “People may be aware that a cease-fire between Israel and Hezbollah will only moderately mitigate overall geopolitical risks, so of course there is optimism.”
In times of economic and geopolitical uncertainty such as trade wars, gold has always been viewed as a safe investment.
According to American Broadcasting Corporation (ABC), Agence France-Presse and other media reports, the Ukrainian Air Force said on Tuesday that Russia launched a “record” number of drone attacks on Ukraine from Monday evening to Tuesday morning local time, causing damage to buildings and critical infrastructure in several regions.
(Screenshot source: ABC)
The Ukrainian Air Force said, “During the night attack, the enemy launched a record number of 'shahd' attack drones and other unknown types of drones.” The Ukrainian military said that the total number of these drones reached 188.
The Ukrainian Air Force said on Telegram that it had shot down 76 drones. Another 95 aircraft disappeared during the flight, probably as a result of the interference, and 5 of them flew to Belarus.
The Ukrainian Air Force wrote: “Unfortunately, due to large-scale drone attacks, critical infrastructure in some areas was hit, and private individuals and multiple apartment buildings were damaged.”
Ukrainian President Zelensky wrote on Telegram that the air strike “caused damage to our critical infrastructure.”
Furthermore, the Russian Ministry of Defense said on Tuesday that Ukraine attacked Russia twice with US-made ATACMS missiles in the past three days, and Russia is preparing to take retaliatory measures. The Russian Ministry of Defense said that the targets of both attacks were air defense positions in the Kursk region. In both attacks, one or two missiles hit the target, but most of the missiles were shot down.
Gold prices surged more than 6% last week, fueled by escalating Russia-Ukraine tension.
How to trade gold?
FXStreet analyst Christian Borjon Valencia pointed out that after sellers pushed the price of gold below the $2,700 per ounce mark, the price of gold was neutral or biased downward. Furthermore, the price of gold showed a series of lower highs and lower lows.
Valencia said that if bears push the price of gold below $2,600 per ounce, it will open the door for testing the 100-day moving average of $2,565 per ounce, followed by a fluctuating low of $2,536 per ounce on November 14.
(Spot gold daily chart source: FXStreet)
On the other hand, Valencia added that, on the contrary, if buyers recover the 50-day moving average of $2,665 per ounce, this could pave the way for gold to challenge $2,700 per ounce. Once at this level, the next target will be $2,750 per ounce, followed by an all-time high of $2,790 per ounce.
Valencia said, likeRelative strength index(RSI) Such oscillatory indicators have moved downward, indicating that sellers are still in control of the situation.
