**********The President of the United StatestrumpOn Wednesday (February 12th), he had phone conversations with Russian President Putin and Ukrainian President Zelensky respectively to discuss the issue of the Ukrainian war, taking an important step towards promoting diplomatic resolution of the conflict. Trump has stated that he may meet with Putin in Saudi Arabia in the future, while emphasizing their shared desire for peace. This series of diplomatic actions marks the initial efforts of the Trump administration to end the war in Ukraine through negotiations.

1. Trump, Putin, Zelensky Call: Consensus on Peace Will Reached

Trump had lengthy phone conversations with Putin and Zelensky respectively to discuss the issue of the Ukraine war. After speaking with Putin, Trump stated on social media that both sides agreed to have their respective teams start negotiations immediately and emphasized that he would first call Zelensky. After speaking with Zelensky, Trump described the conversation as "very smooth" and stated that Zelensky, like Putin, hopes for peace.

Zelensky's office revealed that his conversation with Trump lasted about an hour, discussing opportunities for peace, willingness to cooperate, and Ukraine's technological capabilities, including drones and advanced industries. The Kremlin stated that Putin's call with Trump lasted nearly an hour and a half, and Putin has invited Trump to visit Moscow.

2. Location of the Saudi Arabia or Chengdu US Russia Summit

After speaking with Putin, Trump stated that he expects to meet with Putin in the future, possibly in Saudi Arabia. Russian sources have revealed that Saudi Arabia and the United Arab Emirates are considered possible meeting places. This potential summit could provide an important opportunity for peace talks in Ukraine.

3. Trump administration stance: pragmatic and realistic peace goals

Trump's Defense Secretary, Hergeseth, issued a statement at NATO headquarters in Brussels, stating that Kiev's desire to regain all territories occupied by Russia since 2014 is unrealistic, and ensuring Ukraine's accession to NATO is also unrealistic. He emphasized that lasting peace requires strong security guarantees, but the United States will not send troops to Ukraine. France, Germany, and Spain have also stated that Ukraine's fate cannot be decided without Kiev's involvement, and Europe will play a role in providing security guarantees.

4. Zelensky's Proposal for Mineral Cooperation

To maintain Trump's support for Ukraine, Zelensky proposed a mineral cooperation agreement, in which the United States will invest in Ukraine's mineral resources. During his visit to Kiev, Trump's Treasury Secretary Bessent stated that this agreement could serve as a "safety shield" for Ukraine after the war. In addition, the Kremlin mentioned that the recent prisoner exchange has helped establish trust between the two countries and create favorable conditions for negotiations.

5. Analysis of the Impact on Gold Prices

In the short term, the progress of the US Russia Ukraine peace talks may weaken risk aversion and suppress gold demand. If geopolitical risks significantly cool down, gold prices may face downward pressure. But in the medium to long term, two points need to be paid attention to:

① Repetitive negotiation: If negotiations encounter obstacles or conflicts arise again, safe haven buying will once again support gold prices;

② Extension of resource cooperation: If the Ukrainian mineral agreement involves gold mining or resource competition, it may disrupt the supply chain, indirectly boost inflation expectations, and benefit the anti inflation properties of gold. The current market is still focused on Federal Reserve policies and inflation data, and gold prices may maintain a high volatility pattern in the short term.

summarize

The US Russia Ukraine peace talks promoted by Trump have opened a new window for conflict resolution, and the Saudi Arabia summit may become a key milestone. Short term geopolitical risks may cool down or suppress gold prices, but the complexity of negotiations, the derivative effects of resource cooperation, and Federal Reserve policies remain the dominant factors. Gold, as a safe haven and anti inflation tool, is still supported by multiple uncertainties in the medium to long term.

Note: Spot gold closed at $2904.06 per ounce on Thursday, up about 0.23%.