Russian-Ukrainian war provides momentum to goldInvestor appetite for buying gold as a safe haven has increased amid the renewed escalation of the war between Russia and Ukraine. According to the latest developments, Russia has updated its nuclear doctrine to enable the use of nuclear weapons on the same morning that Ukraine launched US-made missiles on Russian territory for the first time since the start of the war. These developments, which overshadowed the situation in the Middle East, increased fears that Russia might expand the scope of the conflict and provoke a reaction from other countries, leading markets to favour safe-haven assets, which raised gold prices and Treasury bond yields despite the rise in the US dollar price near its two-year high. US Federal Reserve Policies Under ScrutinyOn another level, affecting the gold market. Obviously, most investors continue to expect the Federal Reserve to cut US interest rates by 25 basis points at its December meeting. Moreover, a certainty has diminished since the beginning of the month due to new evidence of strong US economic data. Furthermore, this is led by inflation figures and the US labour market. Will the price of gold rise in the coming days?According to today’s gold analysts’ forecasts, in general, global geopolitics, with wars in the Middle East and Ukraine, and concerns about economic slowdown, will remain positive for sales of gold bullion and coins. At the same time, lower US interest rates, concerns about the country’s fiscal deficit, and rising stock prices are likely to help inflows into exchange-traded funds.In this regard, according to Bloomberg News, global statistics show large inflows from gold exchange-traded funds since the election. Holdings of physical gold ETFs fell by 601,000 ounces from November 10 to November 17, including a single day drop of 265,000 ounces reported on November 11. With this, gold holdings are now down 3% compared to this point last year. Holdings of silver ETFs fell by 7.5 million ounces, but are still up 5% this year. Central Banks’ Purchases of Gold BullionSurveys of central bank councils show that 81% expect gold reserves to increase over the next 12 months, the highest percentage since at least 2019. Also, it added that emerging markets will lead the buying. Global central banks will buy a total of 800 to 900 tonnes this year, slightly below levels of more than 1,000 tonnes in the previous two years. Gold Price Technical Analysis Today:  According to the performance on the daily chart above, with the recent gains, the gold price is starting to form an uptrend channel. Also, the bulls’ control over the general trend will strengthen if prices move towards resistance levels of $2650, $2665, and $2680 per ounce, respectively, and the last level will stimulate a launch to the $2700 per ounce peak again. Conversely, and on the same time frame, the support level of $2555 per ounce will remain the starting point for the bears to control the direction of the gold price again. Thus, a strategy of buying gold from every downward level will remain the best currently.Ready to trade our Gold price forecast? We’ve made a list of the best Gold the best Gold  platforms worth trading with. Gold trading Signals:Dear reader, you should carefully monitor the factors affecting the gold market mentioned above to choose trading opportunities for gold today, tomorrow, and the coming days. Regardless of the trading opportunity, we recommend not taking risks and activating take-profit and stop-loss orders to ensure the safety of your trading account from any sudden price reversals. Also, you can find gold signals and other free live trading signals directly on our website.More By This Author:EUR/USD Analysis: Recovers from Selling PressureEUR/USD Analysis: Headed For ParityUSD/JPY Analysis: Awaits US Policies