FXEM - EMPIRE MARKETS - Company New Article

Gold is currently trading at $2,953 per ounce, trying to maintain its recent gains amid continued strong demand for the precious metal as a safe haven. Markets are awaiting any fresh signals from the Fed on monetary policy, which may affect gold’s movement in the coming sessions. A break of the nearby resistance levels may push the price towards further increases, while a break of the support may lead to limited downside corrections.

Oil price is currently moving near $71.84 per barrel, trying to consolidate after significant volatility in recent sessions. Expectations on global demand and supply factors continue to play a major role in driving prices, with US inventory data and global market developments influencing oil movement. Continued trading above support levels could boost chances of a rise towards 72.50, while breaking current support could push the price to test lower levels.