Gold Slips Below $4,000, WTI, Brent Crude Prices Fall As Russia Escalates Attacks On Ukraine's Energy Infrastructure - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), SPDR S&P 500 (ARCA:SPY)

Core Insights - Gold prices fell below $4,000 per ounce due to escalating geopolitical tensions from Russia's attacks on Ukraine's energy infrastructure [1][3] - Crude oil prices also declined, with West Texas Intermediate (WTI) and Brent crude experiencing drops of 0.37% and 0.44% respectively [4] Geopolitical Context - Russia has intensified its strikes on Ukraine's energy assets, with over 1,550 attacks reported in recent days, particularly affecting regions like Chernihiv, Sumy, and Poltava [3] - The attacks have resulted in injuries and power outages in Kyiv, reflecting a strategy to disrupt civilian access to energy during winter [2] Market Reactions - Following the attacks, gold prices decreased by 0.24% to $3,966.57, down from a previous high of $4,059.34 [3] - Crude oil benchmarks also fell, with WTI at $61.28 per barrel and Brent crude at $64.93 [4] Analyst Insights - Analysts expect continued volatility in crude oil prices, with support levels identified at $60.60-60.00 and resistance at $62.00-62.70 [5] - For gold, support is noted at $3,940-3,910, while resistance is at $4,020-4,045 [5] Broader Market Impact - The escalation in the Russia-Ukraine conflict has overshadowed recent optimism from a U.S.-brokered Israel-Hamas peace deal, which had previously lifted gold prices above $4,000 [6]