XAUUSD

The escalation of tensions between Ukraine and Russia is raising the perception of geopolitical risk, thereby increasing demand for safe havens. Concerns about potential responses from Russia are supporting the rise in gold prices. Although Russia has made a negative statement about nuclear war, the overall perception of risk remains at high levels. This situation leads investors to prefer gold as a safe haven, contributing to the upward trend in prices.

In the short term, spot gold is trading above the 2620-2630 range, which is an important resistance area. From a technical perspective, the 2640 and 2650 levels are being monitored as significant resistance points. The RSI indicator is at the 60 level, displaying a positive outlook that suggests upward movements may continue. A 0.22% increase compared to the previous day indicates that buyers still have influence over the market. However, closures below the 2620 level on a 4-hour basis could strengthen expectations of a decline and bring the 2610 and 2600 support levels into focus.