FXEM - EMPIRE MARKETS - Company New Article

Gold has seen some pullback after a strong rally over the past few sessions, influenced by profit-taking and a slight rise in US bond yields.

• Important pivot level: $3100-$3080, where buyers may return to support the price.
• Key resistance range: $3135-$3150, which may act as a barrier to the continuation of the uptrend.

The overall trend for gold remains bullish, supported by inflation concerns and uncertainty in financial markets, but short-term corrections remain possible.

Oil prices have seen a significant increase amid expectations of declining supplies and continued geopolitical tensions in some oil-producing regions.

• Important pivot area: $69.50-$69.00, which could provide support in case of a pullback.
• Potential resistance range: $71.80-$72.50, which represents a barrier to further gains.

Continued optimism about improving global demand could support prices, but any sudden increase in US inventories could pressure prices downward.