The Russian military has launched modern medium-range hypersonic missiles at Ukrainian targets - Reuters quoted President Vladimir Putin as saying in a public speech on November 21.
As part of what Mr Putin described as a “combat test”, the Oreshnik (Hazel) hypersonic missile successfully struck a military-industrial facility in the Ukrainian city of Dnepropetrovsk (Dnipro).
The airstrikes were in response to Ukrainian attacks on military facilities located on internationally recognized Russian territory. President Putin said Kiev forces launched attacks on Russia on November 18 and 20, using US-made ATACMS and HIMARS missile systems as well as British-made Storm Shadow missiles.
President Putin also said he would publicly announce any future strikes on Ukrainian targets with Oreshnik hypersonic missiles “for humanitarian reasons” to allow civilians to leave potentially dangerous areas. He added that the announcements would not affect the effectiveness of the strikes.
In response to the above information, gold prices recorded an impressive increase, with December gold futures reaching $2,671.9/ounce, marking an increase of $18.1/ounce.
It is worth noting that gold prices are rising despite the sky-high USD price. Recorded at 1:11 p.m. on November 22 (Vietnam time), the US Dollar Index, which measures the greenback's fluctuations against six major currencies, was at 107.117 points (up 0.17%).
The simultaneous rise in both gold and the US dollar reflects the trend of money seeking safe havens amid geopolitical uncertainties. Market analysts say that if tensions continue to escalate between Russia and Ukraine, both assets could rise further as investors prioritize safety in their portfolios.
Matthew Jones, precious metals analyst at Solomon Global, said: “In the current environment, $2,800 an ounce before Christmas is not out of the question.
The ongoing conflict between Russia and Ukraine has become one of the most intense and geopolitically significant confrontations of the 21st century. Western nations, led by the United States and its NATO allies, have provided Ukraine with significant military aid. Reports suggest that the West is tacitly approving the use of long-range missiles such as ATACMS or Storm Shadow to target strategic locations inside Russia.”
Jones warned that doing so increases the risk of the conflict spreading further and could mark a dangerous escalation of war.
He stressed that Russia "has repeatedly warned that attacks on its territory could provoke serious reactions, including targeting Western supply routes or infrastructure in NATO countries," adding that such retaliation "could trigger a direct confrontation between NATO and Russia, escalating the conflict beyond Ukraine's borders."
