FXEM - EMPIRE MARKETS - Company New Article

Gold continues its gains, surpassing $2,990 per ounce, supported by a weaker dollar and economic uncertainty, which is boosting demand for safe-haven assets.

 General Trend: Upward

• Upward Scenario: $3,000 – A break could push the price towards $3,020
• Down Scenario: $2,975 – A break could open the door to a decline to $2,950

Gold is currently benefiting from growing expectations of a Fed rate cut, but any surprises in US economic data could affect its direction.

Oil is steady at $67.63 per barrel amid market volatility due to geopolitical tensions and investors' anticipation of US inventory data this week.

General Trend: Volatile

• First Resistance: $68.50 - A break above this level could push the price towards $70.00
• First Support: $66.80 - A break above this level could open the way for a decline to $65.50

Oil movements remain sensitive to any developments in US monetary policy and global supply and demand conditions.