FXEM - EMPIRE MARKETS - Company New Article

Gold prices fell today to $3,032 amid a stronger dollar and rising US bond yields, which reduced demand for the precious metal.

Factors affecting gold movements today:

• US Dollar Performance: The rise in the US currency reduced gold's appeal as a safe haven.
• Interest Expectations: Continued uncertainty regarding monetary policy directions kept gold under pressure.
• Investment Demand: Demand for gold declined as risk appetite improved in financial markets.

Technical Levels for Gold:

• Strong Pivot Area: $3000 – $3015, where gold may find support.
• Key Upward Barrier: $3045-$3060, which represents a barrier to any potential upside.

Oil prices rose today to $69.50 per barrel, amid mixed global demand outlook and the impact of OPEC+ decisions.

Factors Influencing Today's Oil Movements:

• Global Demand Outlook: Continuing concerns about slowing global economic growth limited oil gains.
• OPEC+ Decisions: Markets await any new OPEC production announcements.
• US Oil Inventories: Weekly declines provide some support for prices.

Technical levels for oil:

• Strong support area: $68.00–$67.50, which may limit any declines.
• Major upside barrier: $70.00–$71.00, which represents an important resistance level to any rise.