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Mar 24, 2025

XAU/USD chart on the hourly time frame

XAU/USD chart on the hourly time frame

Gold fell today to $3,024 per ounce amid pressure from a stronger US dollar and stable US bond yields.

  • Strong support area: 3,000-2,985, where buying may resume if the price declines to this level.
  • Key resistance area: 3,050-3,070, which must be surpassed to consolidate the uptrend.

Influencing Factors:

  • The movement of the US dollar and its impact on gold's safe-haven appeal.
  • The Federal Reserve's monetary policy statements and interest rate expectations.

If gold maintains its level above $3,000, we may witness attempts to rise towards $3,050, while a break above this level may increase downward pressure.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
3031.97
3028.97
3027.21
3024.01
3021.01
3019.24
3016.04
USOIL chart on the hourly time frame

USOIL chart on the hourly time frame

Oil is trading at $68.33 per barrel, attempting to recover from recent losses as markets await developments in global supply.

  • Important Support Area: 67.50-66.80, where buying may resume if the price declines to these levels. Key resistance zone: 69.20-70.00, which must be surpassed to continue the upward trend.

Influencing factors:

  • US oil inventory reports, due later this week, could influence price trends.
  • OPEC+ production announcements, as investors monitor any signals regarding decisions to cut or increase production.

Continued stability above 67.50 could support oil's rise towards 69.20, while a break of this support could pressure prices towards 66.80.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
68.574
68.414
68.316
68.158
67.998
67.896
67.740
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