How to trade Gold if the Gaza war escalates?

Mark O’Donnell Blackbull Markets Limited

Original content: How to trade gold if the Gaza war escalates?

Where does gold go if the Gaza war escalates and are downside targets for gold pointless to think about right now? Perhaps it is prudent to think about some short-term retracements, but it does appear that the war will escalate or at least tensions remain heightened for quite some time, which is bullish for gold.

The latest event that could escalate the Gaza war is the blast at the Al-Ahli hospital in Gaza City that is said to have killed 500 people. Initially attributed to Israel, it is now looking more likely that it was caused by a rocket misfired from within Gaza. This was echo by U.S. President Joe Biden during his visit to Tel Aviv on Wednesday where he also pledged U.S. solidarity with Israel.

Gold has already risen by more than $120 since the October 7 th attack, and around $80 since last Friday. RSI is above the midpoint for most timeframes, but this indicator’s accuracy might be compromised considering the wider geopolitical context.

$1,960 is the obvious upside target to be cleared, and then we might want to simply look at physiological levels rather than technical levels considering the unprecedented nature of the events that might be driving the gold price right now.

Author

Mark O’Donnell

Blackbull Markets Limited

Mark O’Donnell is a Research Analyst with BlackBull Markets in Auckland, New Zealand.

Trump urges Senate to pass CLARITY Act as crypto bill nears crucial vote

US President Donald Trump on Monday urged the US Senate to swiftly pass the Digital Asset Market Clarity Act, following the death of Senator Lindsey Graham, who passed away unexpectedly over the weekend at age 71. "In honor of Senator Lindsey Graham, a big supporter, the US Senate should pass the CLARITY Act," Trump wrote in a Truth Social post.

Ripple and Stellar outlook: XRP and XLM face deeper correction risks

Ripple and Stellar remain under pressure, extending their correction amid broader risk-off conditions following US-Iran tensions. XRP slips below $1.070, while XLM hovers near the critical support at $0.177; both altcoins suggest deeper correction amid geopolitical risks and a deteriorating technical outlook.

Crypto Market Overview: Bitcoin holds at $62,000 – Pi Network, Worldcoin lead losses

The broader cryptocurrency market risk-off sentiment builds as US President Donald Trump formally declares war with Iran to the US Congress. Bitcoin holds at $62,000 while Pi Network (PI) and Worldcoin (WLD) are leading losses over the last 24 hours.

Bitcoin holds near $62K ahead of key macroeconomic reports

Bitcoin traded near $62,000 on Monday, holding onto recent gains as investors adopted little conviction ahead of key macroeconomic reports this week. In a report on Monday, QCP analysts highlighted that Tuesday's US Consumer Price Index (CPI) data could be the first major catalyst to decide the market's direction.

Bitcoin: Strategy sells, the market doesn’t care

Bitcoin (BTC) reclaims $64,000 on Friday, extending a modest recovery while holding firmly above the key technical support zone so far this week. Mixed spot Exchange Traded Funds (ETFs) flows through Thursday reflect cautious institutional positioning. Meanwhile, traders have digested headlines about Strategy’s recent Bitcoin sale, highlighting the Crypto King’s resilience and deep liquidity.