Israel's Shift to Syria and Its Impact on Gold Prices
Over the weekend, the fighting between Israel and Lebanon paused, and Israel turned its attention to Syria, hoping to use this move to weaken the Russia-Ukraine war situation. However, as of now, the situation remains deadlocked, and Ukraine has not gained any significant advantage.
Many of you may not understand the connection between these events, but here’s a simplified explanation: Ukraine and Israel are in the same camp. While Ukraine has been facing difficulties in the Russia-Ukraine war, Russia holds over 80 strategic points in Syria. If Russia loses these, it would be a significant blow. So, Israel, as an ally of Ukraine, attacked Syria, hoping to help Ukraine gain an upper hand before a ceasefire, thus securing more significant benefits. However, up to now, things have not gone as smoothly as expected. Russia deployed troops to Syria, and in the process of attacking, they destroyed a command center of the four-nation alliance. Reports suggest that the leader of the Shams Liberation Organization may have been killed in the strike.
Due to the stalemate in the war, gold's price movement has been unclear. In this situation, the focus should be on the developments in Syria. If Israel gains the upper hand, the probability of gold rising increases significantly.
From a technical standpoint, the bulls currently have a slight advantage. Key support is at around 2635. As long as this support holds, the bullish momentum is likely to continue, and we may see a rapid rally at any time.
Many of you may not understand the connection between these events, but here’s a simplified explanation: Ukraine and Israel are in the same camp. While Ukraine has been facing difficulties in the Russia-Ukraine war, Russia holds over 80 strategic points in Syria. If Russia loses these, it would be a significant blow. So, Israel, as an ally of Ukraine, attacked Syria, hoping to help Ukraine gain an upper hand before a ceasefire, thus securing more significant benefits. However, up to now, things have not gone as smoothly as expected. Russia deployed troops to Syria, and in the process of attacking, they destroyed a command center of the four-nation alliance. Reports suggest that the leader of the Shams Liberation Organization may have been killed in the strike.
Due to the stalemate in the war, gold's price movement has been unclear. In this situation, the focus should be on the developments in Syria. If Israel gains the upper hand, the probability of gold rising increases significantly.
From a technical standpoint, the bulls currently have a slight advantage. Key support is at around 2635. As long as this support holds, the bullish momentum is likely to continue, and we may see a rapid rally at any time.
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