Market Analysis for Today

On Tuesday, gold prices maintained a gain of 0.90%, trading at approximately $2,960 at the time of writing. Headline news was broadcasting from Riyadh, Saudi Arabia, where US and Russian officials were discussing a possible peace agreement for Ukraine. According to Bloomberg, Russia has made it clear that it does not want Ukraine to join NATO, and Kremlin aide Yuri Ushakov told reporters that a Trump-Putin meeting will not take place next week.

Meanwhile, the President of the Federal Reserve Bank of Philadelphia advocated for the central bank to keep interest rates unchanged on Monday evening. He pointed out that recent inflation reports and measures have not tracked the economic changes currently occurring.

Gold opened at 2933 and reached a high of nearly 2936 and a low of around 2931 by the time of writing. Keep an eye on the resistance levels at 2950-2960-2970. If these are not breached, it will test the levels at 2900-2890-2880.