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- Gold Price Forecast: XAU/USD approaches $1,880 again on reports of Ukrainian firing
Gold Price Forecast: XAU/USD approaches $1,880 again on reports of Ukrainian firing
- Gold price gets a fresh lift from the sudden risk-off move, despite the USD bid.
- Ukraine’s armed forces reported to fire grenades and mortars at four LPR localities.
- Less hawkish Fed minutes add to the upside in gold while geopolitical tensions underpin.
Gold price is seeing a buying resurgence and looks to challenge the three-month highs of $1,880 once again, as a fresh wave of risk-aversion hit markets on the Ukrainian firing reports.
The Russian media agency, Sputnik, reported that the Ukrainian military forces shot mortars and grenades in four Luhansk People's Republic (LPR) localities.
The LPR is located in Luhansk Oblast in the Donbas region, which is internationally recognized to be a part of Ukraine but run by Russian-backed separatists.
On the above headlines, gold price jumped from daily lows of $1,868 to reach highs at $1,876 before retracing slightly to $1,875, where it now wavers.
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