Trade Idea XAUUSD

Biden agrees in principle to Ukraine summit with Putin - Link To Article

U.S. President Joe Biden and Russian President Vladimir Putin have agreed in principle to a summit over Ukraine, the French leader said on Monday, offering a possible path out of one of the most dangerous European crises in decades.

Financial markets edged higher on the glimmer of hope for a diplomatic solution even as satellite imagery appeared to show Russian deployments closer to Ukraine's border and sounds of fighting were heard on Monday in the east, where Ukrainian government forces are fighting pro-Russian separatists.

The office of French President Emmanuel Macron said in a statement he had pitched to both leaders a summit on "security and strategic stability in Europe." The White House said in a statement that Biden had accepted the meeting "in principle" but only "if an invasion hasn't happened."

"We are always ready for diplomacy," White House Press Secretary Jen Psaki said. "We are also ready to impose swift and severe consequences should Russia instead choose war."

Messages seeking comment from the Kremlin and from the office of Ukrainian President Volodymyr Zelenskiy were not immediately returned early on Monday.

Many details about the proposed summit - which was announced after a volley of phone calls between Macron, Biden, Putin, Zelenskiy, and British Prime Minister Boris Johnson - are not clear.

Macron's office and the White House said the substance of the summit would be worked out by U.S. Secretary of State Antony Blinken and Russian Foreign Minister Sergei Lavrov during their meeting planned for Feb. 24. What role Ukraine would play in the summit, if any, was also uncertain.

Gold Trade Idea

Gold was rallying Since Feb 11th when First Announcement of Invasion was made by the USA news agencies. On these news Price of Gold rallied +~5% to $1905 main resistance Area. This is result of Gold being a safe Heaven asset- a type of asset that's value goes up as uncertainty around the future of financial market stability increases - an example is War. Gold is being bought as means to preserve capital incase financial markets suffer a bit down turn due to external factors such as war.

Chart of Gold for Last 2 Weeks:

Agreement by Putin and Biden to meet in France for an attempt to reach a diplomatic agreement of potential War in Ukraine is giving markets a breath of hope that de-escalation is possible. This can be seen by a Pull back in Dollar Index - which is also a Safe heaven since USD is the World's Reserve Currency.

Hence, as Long as Diplomatic Talks continue for next few days Gold should follow suit and pull back along side with USD. Hence a healthy Pull back towards to 1875 should be favorable trade in the coming days, and there Market should be reassessed:

Trade Example : Open Sell Position of 10 Units Of XAUUSDpro with Take Profit of $1875 will result in up to $23,000 as Take Profit is reached.