Gold Price Forecast: XAU/USD may surpass $2,000 on steadfast Russian demand for Ukraine surrender By Sagar_Dua24 Gold DollarIndex InterestRate Inflation Ukraine
found grounds around $1,975.00 after the peace talks between Moscow and Kyiv yielded no positive progress on steadfast Russian demand for a Ukrainian surrender.
Negotiations in Turkey drove the situation back to square after the Kremlin escalated its demand to a ‘surrender’ from Ukraine against a halt on Russian military activity in Kyiv. A statement came from Ukraine’s Foreign Minister Dmytro Kuleba post the peace talks that "Russia is not in a position at this point to establish a cease-fire. They seek surrender from Ukraine.
Meanwhile, the Ukrainian parliament says Russian forces attacked a Kharkiv institute that contains an experimental nuclear reactor. This has refreshed the fears of a nuclear attack by Russia. is following the footprints of the precious metal after investors underpinned the risk-aversion theme on renewed geopolitical fears. The DXY is setting above 98.50 on geopolitical jitters and skyscraper US inflation print. The US Consumer Price Index , which was in line with the estimate of 7.
Going forward, the headlines from the Russia-Ukraine war will continue to keep investors on their toes. Apart from that, investors will also focus on the Michigan Consumer Sentiment Index, which is due n Friday.On an hourly scale, XAU/USD has reversed to the upside after sensing support from February 24 high at 1,954.28. The 200-period Exponential Moving Average near $1,973.00 will act as major support for the precious metal. The Relative Strength Index has shifted its range from 20.00-40.
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