XAUUSD 12-8-24 #Geopolitical Crisis #Spotgold

🚨🚨 ALERT ALERT ALERT 🚨🚨⚠️

⚠️‼️"Putin's Frustration Over Kursk Incursion: Could Geopolitical Turmoil Push Gold Prices to $2,590 or $2,320?" ⚠️‼️

Ukrainian forces have advanced into Kursk, capturing key areas and causing major Russian losses. Putin declared a state of emergency in response. The Ukrainians used unexpected tactics, gaining over 250 square km and seizing a major gas hub. Russian defences faltered, with troops abandoning positions and being captured, while reinforcements were hit near Rylsk, possibly due to hacked cameras.

Putin’s Discontent: Russian President Putin’s frustration over the Kursk incursion is evident, as Ukrainian troops make unprecedented advances into Russia.

Geopolitical Impact: The incursion has led to a state of emergency in Kursk, with significant territorial and strategic losses for Russia.

Gold Price Expectations due to this tension: As tensions escalate, gold prices could potentially rise, with market expectations fluctuating between $2,500 and $2,380.

Ukraine's Export Surge: Despite the ongoing conflict, Ukraine has significantly increased its grain exports, reaching over 4.2 million metric tons in July, highlighting the broader economic impacts of the conflict.

Market Insights: The combination of geopolitical instability and disruptions in global grain supplies adds to the uncertainty, potentially driving further interest in gold as a safe-haven asset.