FXEM - EMPIRE MARKETS - Company New Article

Gold continues to hit record highs, benefiting from a weaker dollar, rising geopolitical tensions, and increased demand for safe-haven assets. Expectations of a US interest rate cut have also boosted investor appetite for gold as a hedge against inflation.

If the current momentum continues, we could see a test of the 3,340 level, while potential corrections could temporarily push it to the 3,275 level.

Oil prices maintained their gains amid anticipation of the upcoming OPEC+ meeting on May 5, with growing expectations of a new production cut. However, concerns about slowing global demand remain a barrier to a strong rally.

If expectations of an actual production cut increase, oil could reach 62.20, while if concerns about weak demand persist, it could return to 60.50.